Black Hills Co. (NYSE:BKH) Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its position in shares of Black Hills Co. (NYSE:BKH) by 58.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,607 shares of the utilities provider’s stock after selling 10,810 shares during the period. Entropy Technologies LP’s holdings in Black Hills were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BKH. Signaturefd LLC increased its stake in Black Hills by 4.1% during the second quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 188 shares during the last quarter. Lesa Sroufe & Co increased its position in shares of Black Hills by 0.5% during the 2nd quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock worth $2,354,000 after purchasing an additional 231 shares during the last quarter. BancFirst Trust & Investment Management raised its holdings in Black Hills by 5.7% in the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after buying an additional 233 shares during the period. Acadian Asset Management LLC lifted its position in Black Hills by 0.9% in the second quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock valued at $1,451,000 after buying an additional 249 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE:BKH opened at $62.74 on Friday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 4.56 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. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $63.60. The company has a fifty day simple moving average of $60.49 and a two-hundred day simple moving average of $57.75.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.14%. Black Hills’s dividend payout ratio (DPR) is 69.89%.

Wall Street Analyst Weigh In

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

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.