Massachusetts Financial Services Co. MA Decreases Stock Position in Black Hills Co. (NYSE:BKH)

Massachusetts Financial Services Co. MA decreased its holdings in Black Hills Co. (NYSE:BKH) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 781,238 shares of the utilities provider’s stock after selling 21,999 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Black Hills were worth $47,749,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in shares of Black Hills in the 1st quarter valued at $31,000. Blue Trust Inc. boosted its holdings in shares of 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 during the period. Capital Performance Advisors LLP acquired a new stake in shares of Black Hills during the third quarter worth about $45,000. Quarry LP increased 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 purchasing an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised 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 buying an additional 807 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and an average price target of $60.25.

Black Hills Stock Performance

Shares of Black Hills stock opened at $64.31 on Monday. The firm has a market cap of $4.60 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 4.57 and a beta of 0.69. Black Hills Co. has a 1 year low of $49.33 and a 1 year high of $64.76. The firm’s 50-day simple moving average is $60.81 and its 200-day simple moving average is $58.03. 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. Shareholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s 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.