State Street Corp Sells 66,860 Shares of Black Hills Co. (NYSE:BKH)

State Street Corp lessened its position in Black Hills Co. (NYSE:BKH - Free Report) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,612,105 shares of the utilities provider's stock after selling 66,860 shares during the period. State Street Corp owned approximately 5.05% of Black Hills worth $220,772,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $35,000 after purchasing an additional 265 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Black Hills in the third quarter worth $45,000. Quarry LP grew its holdings in shares of Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock valued at $46,000 after buying an additional 515 shares in the last quarter. 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 purchasing an additional 807 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in Black Hills in the third quarter worth approximately $82,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Scotiabank boosted their target price on Black Hills from $63.00 to $67.00 and gave the stock a "sector perform" rating in a report on Thursday. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of "Hold" and an average target price of $61.25.

Black Hills Price Performance

Black Hills stock remained flat at $61.00 during mid-day trading on Thursday. 119,244 shares of the company's stock were exchanged, compared to its average volume of 470,158. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 4.47 and a beta of 0.71. The stock's 50 day simple moving average is $61.32 and its 200 day simple moving average is $58.60. Black Hills Co. has a 12-month low of $49.33 and a 12-month high of $65.59.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.26%. Black Hills's dividend payout ratio is currently 69.89%.

Black Hills 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.