State of New Jersey Common Pension Fund D Reduces Stock Position in Black Hills Co. (NYSE:BKH)

State of New Jersey Common Pension Fund D cut its stake in Black Hills Co. (NYSE:BKH) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,821 shares of the utilities provider’s stock after selling 494 shares during the quarter. 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 hedge funds also recently made changes to their positions in the stock. Leeward Investments LLC MA grew its holdings 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 buying an additional 9,048 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after acquiring an additional 137,356 shares in the last quarter. Canada Pension Plan Investment Board increased 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 worth $2,958,000 after acquiring an additional 33,600 shares during the period. CWA Asset Management Group LLC purchased a new stake in Black Hills in the 3rd quarter worth approximately $1,807,000. Finally, Burney Co. boosted its holdings in Black Hills by 6.6% in the 2nd quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock valued at $4,326,000 after purchasing an additional 4,915 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Black Hills Stock Performance

NYSE BKH opened at $62.74 on Friday. 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. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. 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 moving average of $60.49 and a 200-day moving average of $57.75.

Black Hills Dividend Announcement

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