New York State Teachers Retirement System Has $5.83 Million Stock Position in Black Hills Co. (NYSE:BKH)

New York State Teachers Retirement System reduced its stake in shares of Black Hills Co. (NYSE:BKH) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,390 shares of the utilities provider’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System owned 0.14% of Black Hills worth $5,830,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BKH. Pathway Financial Advisers LLC raised its position in shares of Black Hills by 6,074.0% during the third quarter. Pathway Financial Advisers LLC now owns 35,809 shares of the utilities provider’s stock valued at $2,189,000 after buying an additional 35,229 shares during the last quarter. GW Henssler & Associates Ltd. bought a new position in Black Hills during the third quarter valued at about $216,000. Insight Folios Inc raised its holdings in Black Hills by 6.5% in the 3rd quarter. Insight Folios Inc now owns 112,983 shares of the utilities provider’s stock valued at $6,906,000 after acquiring an additional 6,937 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Black Hills by 7.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 7,892 shares of the utilities provider’s stock worth $482,000 after acquiring an additional 545 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Black Hills by 20.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 5,569 shares of the utilities provider’s stock worth $340,000 after purchasing an additional 944 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BKH has been the subject of several research reports. Wells Fargo & Company raised their target price on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

Black Hills Stock Up 2.1 %

Shares of NYSE BKH opened at $58.82 on Wednesday. Black Hills Co. has a 52-week low of $48.27 and a 52-week high of $62.20. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The business has a fifty day moving average of $60.10 and a two-hundred day moving average of $57.35. The stock has a market cap of $4.10 billion, a PE ratio of 14.56, a PEG ratio of 4.18 and a beta of 0.69.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.42%. Black Hills’s dividend payout ratio (DPR) is presently 64.36%.

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.