Massachusetts Financial Services Co. MA Has $47.75 Million Stake in Black Hills Co. (NYSE:BKH)

Massachusetts Financial Services Co. MA lowered its position in Black Hills Co. (NYSE:BKH) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 781,238 shares of the utilities provider’s stock after selling 21,999 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.12% of Black Hills worth $47,749,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Black Hills by 0.7% during the first quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock worth $447,927,000 after buying an additional 60,219 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in shares of Black Hills during the first quarter worth $322,000. Price T Rowe Associates Inc. MD lifted its position in shares of Black Hills by 15.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,777 shares of the utilities provider’s stock valued at $2,445,000 after acquiring an additional 5,906 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Black Hills during the 1st quarter worth about $83,000. Finally, Mount Yale Investment Advisors LLC bought a new position in Black Hills in the first quarter worth approximately $235,000. Institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

BKH has been the subject of a number of recent analyst reports. Scotiabank upped their price objective 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. Wells Fargo & Company boosted their target price on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $60.25.

Black Hills Trading Up 1.6 %

NYSE BKH opened at $64.31 on Monday. The stock has a market cap of $4.60 billion, a P/E ratio of 17.29, a P/E/G ratio of 4.57 and a beta of 0.69. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $64.76. The stock’s fifty day moving average price is $60.81 and its 200-day moving average price is $58.03.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders 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 yield of 4.04%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio is 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.