Black Hills Co. (NYSE:BKH) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its position in shares of Black Hills Co. (NYSE:BKH - Free Report) by 57.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,214 shares of the utilities provider's stock after selling 69,063 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.07% of Black Hills worth $3,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BKH. Pathway Financial Advisers LLC purchased a new position in shares of Black Hills in the 1st quarter valued at about $31,000. Blue Trust Inc. increased its position in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 265 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Black Hills during the third quarter worth $45,000. Quarry LP boosted its holdings in shares of 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its position in Black Hills by 972.3% during the 2nd 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 period. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Trading Down 0.5 %

Shares of NYSE:BKH traded down $0.29 during trading on Wednesday, reaching $62.42. 329,788 shares of the stock were exchanged, compared to its average volume of 474,623. The firm's 50-day moving average price is $60.60 and its 200 day moving average price is $57.88. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 4.53 and a beta of 0.69. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. Black Hills Co. has a 12-month low of $49.33 and a 12-month high of $63.60.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 dividend yield of 4.17%. Black Hills's payout ratio is 69.89%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BKH. Scotiabank lifted their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $58.00.

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.