Black Hills Co. (NYSE:BKH) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in shares of Black Hills Co. (NYSE:BKH) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,837 shares of the utilities provider’s stock after selling 2,831 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Black Hills were worth $7,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BKH. AQR Capital Management LLC grew its holdings in Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after purchasing an additional 275,994 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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. Bank of New York Mellon Corp boosted its holdings in shares of Black Hills by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after purchasing an additional 3,544 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Black Hills by 54.5% in the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after purchasing an additional 169,827 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Black Hills by 54.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after buying an additional 116,730 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

Shares of BKH stock opened at $61.38 on Tuesday. The company’s fifty day simple moving average is $61.30 and its 200-day simple moving average is $58.54. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $65.59. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The company has a market cap of $4.39 billion, a PE ratio of 16.50, a P/E/G ratio of 4.47 and a beta of 0.71.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were issued a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.24%. Black Hills’s dividend payout ratio is currently 69.89%.

Analysts Set New Price Targets

Separately, Scotiabank upped their price target on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Black Hills currently has a consensus rating of “Hold” and a consensus price target of $60.25.

Black Hills 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.