Chartwell Investment Partners LLC Has $6.64 Million Stock Holdings in Black Hills Co. (NYSE:BKH)

Chartwell Investment Partners LLC lessened its holdings in Black Hills Co. (NYSE:BKH) by 10.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 108,617 shares of the utilities provider’s stock after selling 12,186 shares during the period. Chartwell Investment Partners LLC owned about 0.16% of Black Hills worth $6,639,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its position in shares of Black Hills by 31.7% during the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after acquiring an additional 275,994 shares during the last quarter. Victory Capital Management Inc. increased its stake 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 acquiring an additional 169,827 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after acquiring an additional 137,356 shares during the period. Assenagon Asset Management S.A. boosted its stake in Black Hills by 54.9% during the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after acquiring an additional 116,730 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Black Hills by 324.7% in the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after purchasing an additional 97,285 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Up 2.7 %

BKH stock opened at $62.44 on Tuesday. The firm has a market capitalization of $4.36 billion, a PE ratio of 16.78, a P/E/G ratio of 4.39 and a beta of 0.69. The company has a quick ratio of 0.94, a current ratio of 1.06 and a debt-to-equity ratio of 1.23. Black Hills Co. has a twelve month low of $48.27 and a twelve month high of $62.48. The stock’s 50 day moving average is $60.25 and its 200-day moving average is $57.57.

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 $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 4.16%. Black Hills’s dividend payout ratio is currently 69.89%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BKH shares. Scotiabank upped their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price target 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.