Victory Capital Management Inc. Has $28.26 Million Holdings in Black Hills Co. (NYSE:BKH)

Victory Capital Management Inc. lessened its holdings in shares of Black Hills Co. (NYSE:BKH) by 3.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 462,401 shares of the utilities provider’s stock after selling 19,014 shares during the period. Victory Capital Management Inc.’s holdings in Black Hills were worth $28,262,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BKH. Signaturefd LLC grew its stake in shares of Black Hills by 4.1% in the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 188 shares during the period. Lesa Sroufe & Co boosted its position in Black Hills by 0.5% in the 2nd quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after buying an additional 231 shares during the last quarter. BancFirst Trust & Investment Management boosted its position in Black Hills by 5.7% in the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after buying an additional 233 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Black Hills by 0.9% in the 2nd quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock valued at $1,451,000 after purchasing an additional 249 shares during the period. Finally, Blue Trust Inc. raised its stake in Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on BKH shares. Wells Fargo & Company boosted 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. Scotiabank boosted their price objective on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $58.00.

Black Hills Price Performance

BKH stock opened at $62.74 on Monday. Black Hills Co. has a 1 year low of $49.33 and a 1 year high of $63.60. The stock has a market capitalization of $4.49 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 4.53 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 company’s 50-day moving average is $60.49 and its 200-day moving average is $57.79.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.14%. 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.