Amalgamated Bank Sells 1,613 Shares of Black Hills Co. (NYSE:BKH)

Amalgamated Bank lessened its stake in shares of Black Hills Co. (NYSE:BKH) by 4.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,982 shares of the utilities provider’s stock after selling 1,613 shares during the period. Amalgamated Bank’s holdings in Black Hills were worth $1,955,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Signaturefd LLC boosted its holdings in shares of 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 buying an additional 188 shares during the last quarter. Lesa Sroufe & Co lifted its stake in Black Hills by 0.5% in the second quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after acquiring an additional 231 shares during the last quarter. BancFirst Trust & Investment Management grew its position in shares of Black Hills by 5.7% in the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 233 shares during the period. Acadian Asset Management LLC increased its stake in shares of Black Hills by 0.9% during 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. raised its holdings in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Price Performance

Shares of NYSE BKH opened at $61.78 on Wednesday. The firm has a market cap of $4.31 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 4.39 and a beta of 0.69. The business’s 50 day moving average is $60.31 and its 200-day moving average is $57.62. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. Black Hills Co. has a 1-year low of $48.27 and a 1-year high of $63.01.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio is currently 69.89%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BKH shares. Scotiabank boosted their price target 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 target price 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $58.00.

About Black Hills

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.