Chartwell Investment Partners LLC Trims Stock Position in Black Hills Co. (NYSE:BKH)

Chartwell Investment Partners LLC cut its position in Black Hills Co. (NYSE:BKH) by 10.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 108,617 shares of the utilities provider’s stock after selling 12,186 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Black Hills were worth $6,639,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BKH. AQR Capital Management LLC increased its holdings in shares of Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after purchasing an additional 275,994 shares during the period. Victory Capital Management Inc. grew its position in Black Hills by 54.5% during the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after buying an additional 169,827 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in Black Hills by 39.7% in the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after acquiring an additional 137,356 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Black Hills by 54.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after acquiring an additional 116,730 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Black Hills by 324.7% during the 2nd quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock valued at $6,919,000 after acquiring an additional 97,285 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped 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 report on Friday, August 2nd. Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $58.00.

Black Hills Stock Performance

NYSE:BKH opened at $62.44 on Tuesday. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 4.39 and a beta of 0.69. The business has a 50 day moving average of $60.25 and a 200 day moving average of $57.57. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. Black Hills Co. has a 1-year low of $48.27 and a 1-year high of $62.48.

Black Hills Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.16%. Black Hills’s dividend payout ratio (DPR) is 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.