AdvisorNet Financial Inc Cuts Stock Position in Black Hills Co. (NYSE:BKH)

AdvisorNet Financial Inc trimmed its position in shares of Black Hills Co. (NYSE:BKH) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,515 shares of the utilities provider’s stock after selling 921 shares during the period. AdvisorNet Financial Inc’s holdings in Black Hills were worth $1,259,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BKH. Thrivent Financial for Lutherans grew its position in Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after acquiring an additional 34,129 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Black Hills by 161.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after acquiring an additional 33,600 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Black Hills by 19.3% in the 3rd quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after purchasing an additional 16,522 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of Black Hills during the 3rd quarter valued at $1,807,000. Finally, Hsbc Holdings PLC raised its position in Black Hills by 34.4% in the 2nd quarter. Hsbc Holdings PLC now owns 108,024 shares of the utilities provider’s stock worth $5,854,000 after purchasing an additional 27,677 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank upped their price target on shares of Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.25.

Black Hills Stock Performance

NYSE:BKH opened at $56.53 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. Black Hills Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The firm has a market cap of $4.05 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72. The business has a 50 day moving average price of $60.48 and a 200-day moving average price of $59.33.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.60%. Black Hills’s dividend payout ratio is currently 69.89%.

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.