Black Hills Co. (NYSE:BKH) Stock Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Black Hills Co. (NYSE:BKH - Free Report) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 462,401 shares of the utilities provider's stock after selling 19,014 shares during the quarter. Victory Capital Management Inc. owned approximately 0.66% of Black Hills worth $28,262,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BKH. Pathway Financial Advisers LLC acquired a new position in Black Hills during the first quarter worth approximately $31,000. Blue Trust Inc. grew its stake in shares of 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 buying an additional 265 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Black Hills during the 3rd quarter worth $45,000. Quarry LP boosted its holdings in Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 515 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 807 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BKH. Scotiabank lifted their price objective 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 lifted their price target on shares of Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $58.00.

Black Hills Stock Performance

BKH stock traded up $0.88 during trading on Monday, reaching $62.98. 422,631 shares of the company's stock were exchanged, compared to its average volume of 474,917. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $63.60. The firm has a market cap of $4.51 billion, a PE ratio of 16.93, a P/E/G ratio of 4.53 and a beta of 0.69. The company's fifty day moving average price is $60.56 and its 200-day moving average price is $57.84. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Monday, November 18th. Black Hills's dividend payout ratio is presently 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.