Cornercap Investment Counsel Inc. Has $578,000 Stock Holdings in Black Hills Co. (NYSE:BKH)

Cornercap Investment Counsel Inc. reduced its stake in Black Hills Co. (NYSE:BKH) by 52.0% during the 3rd quarter, Holdings Channel reports. The fund owned 9,462 shares of the utilities provider’s stock after selling 10,243 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Black Hills were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BKH. SG Americas Securities LLC increased its position in shares of Black Hills by 357.0% during the first quarter. SG Americas Securities LLC now owns 10,754 shares of the utilities provider’s stock worth $587,000 after acquiring an additional 8,401 shares in the last quarter. Swiss National Bank grew its holdings in Black Hills by 1.4% in the 1st quarter. Swiss National Bank now owns 134,179 shares of the utilities provider’s stock worth $7,326,000 after acquiring an additional 1,900 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after purchasing an additional 137,356 shares in the last quarter. Vanguard Group Inc. lifted its position in Black Hills by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,203,786 shares of the utilities provider’s stock valued at $447,927,000 after acquiring an additional 60,219 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in Black Hills by 59.0% in the first quarter. Ontario Teachers Pension Plan Board now owns 113,581 shares of the utilities provider’s stock worth $6,202,000 after buying an additional 42,168 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BKH has been the subject of a number of recent analyst reports. Scotiabank upped their price target 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 increased their target price on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to data from MarketBeat.com, Black Hills currently has an average rating of “Hold” and an average target price of $58.00.

Black Hills Price Performance

Shares of NYSE BKH opened at $62.74 on Friday. 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 twelve month low of $49.33 and a twelve month high of $63.60. The stock has a 50 day moving average of $60.49 and a two-hundred day moving average of $57.75. The stock has a market cap 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.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a dividend of $0.65 per share. 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.