John G Ullman & Associates Inc. Decreases Position in Black Hills Co. (NYSE:BKH)

John G Ullman & Associates Inc. trimmed its holdings in Black Hills Co. (NYSE:BKH) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,516 shares of the utilities provider’s stock after selling 1,468 shares during the quarter. John G Ullman & Associates Inc. owned about 0.08% of Black Hills worth $3,576,000 as of its most recent SEC filing.

Several other hedge funds 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 $31,000. Blue Trust Inc. boosted its stake in Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 265 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Black Hills during the third quarter worth about $45,000. Quarry LP increased its position in shares of 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 in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Black Hills by 972.3% in the 2nd 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 during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Trading Down 0.5 %

Shares of BKH stock opened at $62.42 on Thursday. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $63.60. 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 business’s 50 day moving average is $60.66 and its two-hundred day moving average is $57.92. The company has a market capitalization of $4.47 billion, a P/E ratio of 16.78, a price-to-earnings-growth ratio of 4.53 and a beta of 0.69.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Analyst Upgrades and Downgrades

Several research analysts have commented on BKH shares. Scotiabank lifted their price target on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. 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 report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, Black Hills presently has an average rating of “Hold” and a consensus price target of $60.25.

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.