Amalgamated Bank Sells 1,613 Shares of Black Hills Co. (NYSE:BKH)

Amalgamated Bank reduced its stake in Black Hills Co. (NYSE:BKH) by 4.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 31,982 shares of the utilities provider’s stock after selling 1,613 shares during the quarter. Amalgamated Bank’s holdings in Black Hills were worth $1,955,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC bought a new stake in shares of Black Hills during the 1st quarter worth approximately $31,000. Blue Trust Inc. lifted 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 worth $35,000 after purchasing an additional 265 shares during the last quarter. Quarry LP boosted its holdings in shares of Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake 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 valued at $48,000 after purchasing an additional 807 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Black Hills during the 1st quarter worth $83,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank increased their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Black Hills currently has an average rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

NYSE:BKH opened at $61.78 on Wednesday. The stock’s 50-day moving average is $60.31 and its 200-day moving average is $57.62. Black Hills Co. has a 1-year low of $48.27 and a 1-year high of $63.01. The company has a current ratio of 1.06, a quick ratio of 0.94 and a debt-to-equity ratio of 1.23. The stock has a market cap of $4.31 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 4.39 and a beta of 0.69.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.21%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is currently 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.