Principal Financial Group Inc. cut its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 28.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 203,554 shares of the utilities provider's stock after selling 80,699 shares during the quarter. Principal Financial Group Inc. owned about 0.29% of Black Hills worth $12,441,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Leeward Investments LLC MA lifted its stake in Black Hills by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider's stock valued at $9,253,000 after acquiring an additional 9,048 shares during the period. Canada Pension Plan Investment Board grew its position in Black Hills by 161.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider's stock worth $2,958,000 after purchasing an additional 33,600 shares during the period. Burney Co. lifted its holdings in shares of Black Hills by 6.6% during the 2nd quarter. Burney Co. now owns 79,560 shares of the utilities provider's stock valued at $4,326,000 after buying an additional 4,915 shares during the period. Hsbc Holdings PLC lifted its holdings in Black Hills by 34.4% in the second quarter. Hsbc Holdings PLC now owns 108,024 shares of the utilities provider's stock valued at $5,854,000 after acquiring an additional 27,677 shares during the period. Finally, First Personal Financial Services boosted its position in Black Hills by 47.7% in the second quarter. First Personal Financial Services now owns 34,820 shares of the utilities provider's stock worth $1,894,000 after purchasing an additional 11,249 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.
Wall Street Analysts Forecast Growth
BKH has been the subject of a number of recent research reports. Scotiabank boosted their price objective 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 boosted their price target on Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $58.00.
Get Our Latest Research Report on BKH
Black Hills Price Performance
Shares of BKH traded up $0.06 during midday trading on Friday, hitting $62.74. 502,865 shares of the company traded hands, compared to its average volume of 591,868. The firm has a 50 day moving average of $60.49 and a 200-day moving average of $57.79. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $63.60. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of 16.87, a PEG 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 Dividend Announcement
The firm also recently announced 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. This represents a $2.60 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Monday, November 18th. Black Hills's dividend payout ratio is 69.89%.
Black Hills Profile
(
Free Report)
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.
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