BNP Paribas Financial Markets Sells 37,495 Shares of Black Hills Co. (NYSE:BKH)

BNP Paribas Financial Markets reduced its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,809 shares of the utilities provider's stock after selling 37,495 shares during the period. BNP Paribas Financial Markets owned about 0.09% of Black Hills worth $3,778,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its position in Black Hills by 84.9% during 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 last quarter. Capital Performance Advisors LLP bought a new stake in shares of Black Hills in the third quarter worth $45,000. Quarry LP boosted its holdings in Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after purchasing an additional 515 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 807 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Black Hills in the 1st quarter valued at $83,000. 86.71% of the stock is currently owned by institutional investors.

Black Hills Stock Performance

Black Hills stock traded down $0.24 during trading hours on Thursday, hitting $62.77. The company had a trading volume of 281,040 shares, compared to its average volume of 472,423. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. The firm has a market cap of $4.49 billion, a PE ratio of 16.87, a PEG ratio of 4.55 and a beta of 0.71. The firm has a 50-day moving average of $61.23 and a 200 day moving average of $58.39. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors 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 annualized dividend and a yield of 4.14%. Black Hills's dividend payout ratio (DPR) is presently 69.89%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price target on Black Hills from $54.00 to $63.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Five 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 price target of $60.25.

Black Hills Company 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.