The Manufacturers Life Insurance Company Sells 302,000 Shares of Black Hills Co. (NYSE:BKH)

The Manufacturers Life Insurance Company trimmed its stake in shares of Black Hills Co. (NYSE:BKH) by 41.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 425,736 shares of the utilities provider’s stock after selling 302,000 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Black Hills were worth $26,021,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BKH. Leeward Investments LLC MA increased its holdings in shares of Black Hills by 5.6% in the second quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock worth $9,253,000 after purchasing an additional 9,048 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Black Hills by 161.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after acquiring an additional 33,600 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Black Hills by 19.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after acquiring an additional 34,129 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Black Hills during the third quarter worth about $1,807,000. Finally, Burney Co. increased its position in shares of Black Hills by 6.6% in the second quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock worth $4,326,000 after purchasing an additional 4,915 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

Separately, Scotiabank boosted 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 note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Black Hills has a consensus rating of “Hold” and an average price target of $60.25.

Black Hills Stock Performance

NYSE:BKH opened at $64.07 on Friday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 4.62 and a beta of 0.69. The business has a 50 day moving average of $61.13 and a 200 day moving average of $58.25. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $65.59.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a $0.65 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.06%. Black Hills’s dividend payout ratio (DPR) 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.