Moors & Cabot Inc. Sells 250 Shares of Black Hills Co. (NYSE:BKH)

Moors & Cabot Inc. cut its position in shares of Black Hills Co. (NYSE:BKH) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,079 shares of the utilities provider’s stock after selling 250 shares during the period. Moors & Cabot Inc.’s holdings in Black Hills were worth $433,000 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 company. Pathway Financial Advisers LLC purchased a new stake in shares of Black Hills during the 1st quarter worth approximately $31,000. Blue Trust Inc. raised its stake in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Black Hills during the third quarter valued at $45,000. Quarry LP grew its stake in shares of Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after buying an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Black Hills by 972.3% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after buying an additional 807 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Black Hills Stock Performance

Shares of NYSE:BKH opened at $64.31 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 12 month low of $49.33 and a 12 month high of $64.76. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 4.53 and a beta of 0.69. The firm’s 50-day moving average is $60.81 and its 200 day moving average is $58.01.

Black Hills Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.04%. Black Hills’s payout ratio is 69.89%.

Analysts Set New Price Targets

BKH has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target 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. Scotiabank raised their price objective on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.25.

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.