BNP Paribas Financial Markets Lowers Position in Black Hills Co. (NYSE:BKH)

BNP Paribas Financial Markets cut its holdings in shares of Black Hills Co. (NYSE:BKH) by 37.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 61,809 shares of the utilities provider’s stock after selling 37,495 shares during the quarter. BNP Paribas Financial Markets owned about 0.09% of Black Hills worth $3,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Signaturefd LLC grew its holdings in shares of Black Hills by 4.1% during the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 188 shares during the period. Acadian Asset Management LLC grew its holdings 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 period. Blue Trust Inc. boosted 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 valued at $35,000 after acquiring an additional 265 shares during the period. Inspire Investing LLC boosted its holdings in Black Hills by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider’s stock valued at $412,000 after acquiring an additional 266 shares during the period. Finally, AMG National Trust Bank boosted its holdings in Black Hills by 1.0% during the 2nd quarter. AMG National Trust Bank now owns 34,596 shares of the utilities provider’s stock valued at $1,881,000 after acquiring an additional 327 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Shares of Black Hills stock opened at $63.01 on Thursday. The business has a 50-day moving average of $61.19 and a 200 day moving average of $58.36. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 4.54 and a beta of 0.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Monday, November 18th. Black Hills’s payout ratio is presently 69.89%.

Analysts Set New Price Targets

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