Retirement Systems of Alabama Sells 352 Shares of Black Hills Co. (NYSE:BKH)

Retirement Systems of Alabama lessened its holdings in Black Hills Co. (NYSE:BKH) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,728 shares of the utilities provider’s stock after selling 352 shares during the period. Retirement Systems of Alabama owned 0.12% of Black Hills worth $5,179,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position 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 buying an additional 33,600 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock worth $12,882,000 after purchasing an additional 34,129 shares during the period. HighTower Advisors LLC grew its holdings in Black Hills by 19.3% during the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after purchasing an additional 16,522 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Black Hills in the third quarter valued at approximately $1,807,000. Finally, Burney Co. lifted its stake in shares of Black Hills by 6.6% in the second 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 last quarter. 86.71% of the stock is currently owned by institutional investors.

Black Hills Stock Down 3.9 %

NYSE BKH opened at $57.73 on Thursday. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The stock has a market cap of $4.13 billion, a PE ratio of 15.52, a PEG ratio of 4.41 and a beta of 0.71. The firm has a 50-day simple moving average of $61.37 and a 200 day simple moving average of $58.78.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Monday, November 18th. Black Hills’s payout ratio is presently 69.89%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised their target price on shares of Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.25.

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.