Charles Schwab Investment Management Inc. Sells 491 Shares of Black Hills Co. (NYSE:BKH)

Charles Schwab Investment Management Inc. cut its stake in shares of Black Hills Co. (NYSE:BKH) by 0.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,186,284 shares of the utilities provider’s stock after selling 491 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Black Hills were worth $72,506,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position 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. boosted its holdings in Black Hills by 54.5% in the 2nd 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 during the period. 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 buying an additional 116,730 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Black Hills by 324.7% during the second 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 period. Finally, Dimensional Fund Advisors LP raised its holdings in Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after acquiring an additional 78,958 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.6 %

NYSE BKH opened at $63.94 on Friday. The stock has a 50 day moving average price of $61.00 and a 200-day moving average price of $58.16. Black Hills Co. has a one year low of $49.33 and a one year 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 company has a market capitalization of $4.58 billion, a P/E ratio of 17.19, a P/E/G ratio of 4.67 and a beta of 0.69.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.07%. Black Hills’s payout ratio is currently 69.89%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank lifted their price target 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 analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.25.

About Black Hills

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.