Entropy Technologies LP Decreases Position in Black Hills Co. (NYSE:BKH)

Entropy Technologies LP reduced its stake in Black Hills Co. (NYSE:BKH) by 58.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,607 shares of the utilities provider’s stock after selling 10,810 shares during the period. Entropy Technologies LP’s holdings in Black Hills were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Leeward Investments LLC MA grew its position in shares of Black Hills by 5.6% in 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 during the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of Black Hills by 39.7% during the first quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock worth $26,378,000 after purchasing an additional 137,356 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Black Hills by 161.5% during the second quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after purchasing an additional 33,600 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Black Hills during the third quarter worth about $1,807,000. Finally, Burney Co. lifted its holdings in shares of 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 last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Up 0.1 %

BKH opened at $62.74 on Friday. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $63.60. The business has a 50 day moving average price of $60.49 and a two-hundred day moving average price of $57.75. 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 company has a market cap of $4.49 billion, a PE ratio of 16.87, a P/E/G ratio of 4.56 and a beta of 0.69.

Black Hills Dividend Announcement

The business 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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio is presently 69.89%.

Analyst Upgrades and Downgrades

BKH has been the topic of a number of research reports. Wells Fargo & Company raised their price target on 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 raised their target price on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.00.

Black Hills 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.