Mutual of America Capital Management LLC Trims Stock Holdings in Black Hills Co. (NYSE:BKH)

Mutual of America Capital Management LLC trimmed its holdings in Black Hills Co. (NYSE:BKH) by 2.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 130,348 shares of the utilities provider’s stock after selling 3,830 shares during the period. Mutual of America Capital Management LLC’s holdings in Black Hills were worth $7,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BKH. Vanguard Group Inc. raised its holdings in shares of Black Hills by 0.7% in 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 during the period. O Shaughnessy Asset Management LLC purchased a new position in Black Hills during the 1st quarter worth $322,000. Crewe Advisors LLC increased its holdings in Black Hills by 31.9% during the 1st quarter. Crewe Advisors LLC now owns 1,641 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 397 shares during the period. EntryPoint Capital LLC increased its holdings in Black Hills by 3,428.3% during the 1st quarter. EntryPoint Capital LLC now owns 2,117 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 2,057 shares during the period. Finally, DC Investments Management LLC purchased a new position in Black Hills during the 1st quarter worth $1,007,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the stock 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 stock a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $58.00.

Black Hills Trading Up 1.4 %

BKH opened at $62.98 on Tuesday. The firm has a market cap of $4.51 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 4.53 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 $63.60. The stock has a fifty day moving average price of $60.56 and a 200-day moving average price of $57.84.

Black Hills Announces Dividend

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 given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s payout ratio is 69.89%.

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.