MetLife Investment Management LLC Sells 237 Shares of Black Hills Co. (NYSE:BKH)

MetLife Investment Management LLC cut its position in Black Hills Co. (NYSE:BKH) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 74,359 shares of the utilities provider’s stock after selling 237 shares during the period. MetLife Investment Management LLC’s holdings in Black Hills were worth $4,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BKH. Leeward Investments LLC MA raised its stake in Black Hills by 5.6% in 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 increased its stake in shares of Black Hills by 161.5% in the second 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 in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Black Hills by 19.3% in the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after purchasing an additional 34,129 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Black Hills during the 3rd quarter valued at approximately $1,807,000. Finally, Burney Co. boosted its holdings in Black Hills by 6.6% in the 2nd quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock worth $4,326,000 after buying an additional 4,915 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Trading Up 0.2 %

Shares of BKH opened at $64.07 on Monday. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The stock has a market cap of $4.59 billion, a PE ratio of 17.22, a P/E/G ratio of 4.63 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average price is $61.13 and its 200-day moving average price is $58.27.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Analysts Set New Price Targets

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

Black Hills Company 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.