State of New Jersey Common Pension Fund D Sells 494 Shares of Black Hills Co. (NYSE:BKH)

State of New Jersey Common Pension Fund D decreased its stake in shares of Black Hills Co. (NYSE:BKH) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,821 shares of the utilities provider’s stock after selling 494 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Black Hills were worth $2,067,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of BKH. Vanguard Group Inc. boosted its holdings in Black Hills by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock worth $447,927,000 after acquiring an additional 60,219 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Black Hills by 31.7% during 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 last quarter. Dimensional Fund Advisors LP grew its position in Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after purchasing an additional 78,958 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Black Hills by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after buying an additional 3,544 shares during the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after buying an additional 137,356 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE:BKH opened at $62.74 on Friday. Black Hills Co. has a 1 year low of $49.33 and a 1 year high of $63.60. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The business has a fifty day simple moving average of $60.49 and a two-hundred day simple moving average of $57.75. The company has a market capitalization of $4.49 billion, a P/E ratio of 16.87, a P/E/G ratio of 4.56 and a beta of 0.69.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio is currently 69.89%.

Analyst Upgrades and Downgrades

BKH has been the subject of a number of research analyst reports. Scotiabank increased their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company 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.