Cornercap Investment Counsel Inc. Sells 10,243 Shares of Black Hills Co. (NYSE:BKH)

Cornercap Investment Counsel Inc. reduced its position in shares of Black Hills Co. (NYSE:BKH) by 52.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,462 shares of the utilities provider’s stock after selling 10,243 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Black Hills were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Leeward Investments LLC MA grew its position in Black Hills by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock valued at $9,253,000 after purchasing an additional 9,048 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after buying an additional 137,356 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Black Hills by 161.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after buying an additional 33,600 shares in the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Black Hills in the third quarter valued at $1,807,000. Finally, Burney Co. lifted its position in 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.

Analyst Ratings Changes

Several equities analysts have issued reports on BKH shares. Scotiabank lifted their target price on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company increased their price target on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.00.

Black Hills Stock Up 0.1 %

BKH opened at $62.74 on Friday. The stock has a market cap 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. 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 stock’s 50 day moving average price is $60.49 and its 200 day moving average price is $57.75. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $63.60.

Black Hills Announces Dividend

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 of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.14%. Black Hills’s payout ratio is presently 69.89%.

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.