Retirement Systems of Alabama Sells 352 Shares of Black Hills Co. (NYSE:BKH)

Retirement Systems of Alabama lowered its holdings in Black Hills Co. (NYSE:BKH) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,728 shares of the utilities provider’s stock after selling 352 shares during the quarter. Retirement Systems of Alabama’s holdings in Black Hills were worth $5,179,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BKH. Zimmer Partners LP bought a new stake in shares of Black Hills in the 3rd quarter valued at approximately $96,374,000. Franklin Resources Inc. grew its position in Black Hills by 109.8% in the third quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock valued at $53,356,000 after acquiring an additional 461,894 shares during the period. AQR Capital Management LLC raised its stake in 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 in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Black Hills by 54.5% during the second 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 during the period. Finally, Invenomic Capital Management LP acquired a new stake in shares of Black Hills in the 3rd quarter valued at $8,260,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analyst Ratings Changes

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

Black Hills Trading Down 3.9 %

BKH stock opened at $57.73 on Thursday. The business has a fifty day moving average price of $61.37 and a 200 day moving average price of $58.78. 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 Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 4.41 and a beta of 0.71.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were paid a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.50%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

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.