Cornercap Investment Counsel Inc. Reduces Stock Position in Black Hills Co. (NYSE:BKH)

Cornercap Investment Counsel Inc. lowered its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 52.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,462 shares of the utilities provider's stock after selling 10,243 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Black Hills were worth $578,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BKH. Vanguard Group Inc. increased its holdings in shares of Black Hills by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider's stock worth $447,927,000 after purchasing an additional 60,219 shares during the period. AQR Capital Management LLC increased its stake in Black Hills by 31.7% in the 2nd 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. Dimensional Fund Advisors LP raised its holdings in shares of Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider's stock valued at $53,210,000 after acquiring an additional 78,958 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Black Hills by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider's stock valued at $51,622,000 after acquiring an additional 3,544 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider's stock worth $26,378,000 after purchasing an additional 137,356 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Black Hills Trading Up 0.1 %

NYSE BKH traded up $0.06 during trading on Friday, hitting $62.74. 502,865 shares of the company's stock traded hands, compared to its average volume of 475,153. The firm has a market cap of $4.49 billion, a P/E ratio of 16.87, a PEG ratio of 4.56 and a beta of 0.69. The stock has a fifty day moving average of $60.49 and a two-hundred day moving average of $57.75. 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 12-month low of $49.33 and a 12-month high of $63.60.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.14%. Black Hills's payout ratio is 69.89%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BKH. Wells Fargo & Company lifted their target price 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. Scotiabank increased 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. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat.com, Black Hills presently has a consensus rating of "Hold" and a consensus target price of $58.00.

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.