New York State Teachers Retirement System Has $5.83 Million Position in Black Hills Co. (NYSE:BKH)

New York State Teachers Retirement System lessened its holdings in shares of Black Hills Co. (NYSE:BKH) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 95,390 shares of the utilities provider’s stock after selling 200 shares during the period. New York State Teachers Retirement System’s holdings in Black Hills were worth $5,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC increased its position in Black Hills by 4.1% in the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 188 shares in the last quarter. Lesa Sroufe & Co grew its stake in shares of Black Hills by 0.5% during the second quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after purchasing an additional 231 shares during the last quarter. BancFirst Trust & Investment Management increased its holdings in shares of Black Hills by 5.7% in the second quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 233 shares in the last quarter. Acadian Asset Management LLC raised its position in Black Hills by 0.9% in the 2nd quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock worth $1,451,000 after purchasing an additional 249 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of Black Hills stock opened at $58.82 on Wednesday. The stock’s fifty day simple moving average is $60.10 and its 200 day simple moving average is $57.35. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $4.10 billion, a PE ratio of 14.56, a PEG ratio of 4.18 and a beta of 0.69. Black Hills Co. has a 12 month low of $48.27 and a 12 month high of $62.20.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.42%. Black Hills’s dividend payout ratio is presently 64.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BKH shares. Scotiabank boosted their target price on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.