Moors & Cabot Inc. Sells 250 Shares of Black Hills Co. (NYSE:BKH)

Moors & Cabot Inc. lessened its stake in Black Hills Co. (NYSE:BKH) by 3.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,079 shares of the utilities provider’s stock after selling 250 shares during the period. Moors & Cabot Inc.’s holdings in Black Hills were worth $433,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC purchased a new stake in Black Hills during the first quarter valued at $31,000. Blue Trust Inc. grew its stake in shares of Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Black Hills during the 3rd quarter valued at about $45,000. Quarry LP lifted its stake in shares of Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its position in Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after buying an additional 807 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BKH. Wells Fargo & Company lifted their price target on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank boosted their price target on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $60.25.

Black Hills Price Performance

NYSE:BKH opened at $64.31 on Friday. The stock has a market cap of $4.60 billion, a PE ratio of 17.29, a P/E/G ratio of 4.53 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. The business’s 50-day simple moving average is $60.81 and its two-hundred day simple moving average is $58.01. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $64.76.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be issued 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 yield of 4.04%. Black Hills’s dividend payout ratio is presently 69.89%.

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.