Black Hills Co. (NYSE:BKH) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its stake in Black Hills Co. (NYSE:BKH - Free Report) by 19.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 210,768 shares of the utilities provider's stock after buying an additional 34,129 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.30% of Black Hills worth $12,882,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pathway Financial Advisers LLC purchased a new stake in shares of Black Hills during the first quarter worth about $31,000. Blue Trust Inc. grew its stake in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $35,000 after acquiring an additional 265 shares during the period. Capital Performance Advisors LLP acquired a new position in Black Hills in the 3rd quarter valued at $45,000. Quarry LP lifted its stake in shares of Black Hills by 158.0% during the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after purchasing an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock worth $48,000 after purchasing an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Trading Up 1.6 %

BKH traded up $1.02 during trading on Friday, hitting $64.31. 513,103 shares of the company's stock were exchanged, compared to its average volume of 474,332. Black Hills Co. has a 1 year low of $49.33 and a 1 year high of $64.76. The stock has a 50 day moving average price of $60.74 and a 200 day moving average price of $57.95. The firm has a market cap of $4.60 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 4.53 and a beta of 0.69. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.04%. The ex-dividend date is Monday, November 18th. Black Hills's dividend payout ratio (DPR) is presently 69.89%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on BKH shares. Scotiabank upped their target price on Black Hills from $54.00 to $63.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $60.25.

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.