Black Hills Co. (NYSE:BKH) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its stake in shares of Black Hills Co. (NYSE:BKH) by 1.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 232,207 shares of the utilities provider’s stock after selling 4,570 shares during the period. Glenmede Trust Co. NA owned about 0.32% of Black Hills worth $14,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKH. AQR Capital Management LLC lifted its stake in Black Hills by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after buying an additional 275,994 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Black Hills by 54.5% in the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after acquiring an additional 169,827 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Black Hills by 54.9% in the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after acquiring an additional 116,730 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Black Hills by 324.7% during the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after purchasing an additional 97,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after purchasing an additional 78,958 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.6 %

Shares of BKH opened at $63.94 on Friday. Black Hills Co. has a 52-week low of $49.33 and a 52-week high of $65.59. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The stock has a fifty day simple moving average of $61.00 and a two-hundred day simple moving average of $58.16. The company has a market capitalization of $4.58 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 4.67 and a beta of 0.69.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Wall Street Analyst Weigh In

BKH has been the topic of several recent research reports. Wells Fargo & Company lifted their target price on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank increased their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $60.25.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.