Martingale Asset Management L P Has $4.38 Million Holdings in Black Hills Co. (NYSE:BKH)

Martingale Asset Management L P increased its holdings in Black Hills Co. (NYSE:BKH) by 13.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,683 shares of the utilities provider’s stock after acquiring an additional 8,261 shares during the period. Martingale Asset Management L P owned about 0.10% of Black Hills worth $4,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Signaturefd LLC grew its position in shares of Black Hills by 4.1% during the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 188 shares during the period. Lesa Sroufe & Co grew its position in shares of Black Hills by 0.5% during the 2nd quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after acquiring an additional 231 shares during the period. BancFirst Trust & Investment Management grew its position in shares of Black Hills by 5.7% during the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after acquiring an additional 233 shares during the period. Acadian Asset Management LLC grew its position in shares of Black Hills by 0.9% during the 2nd quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock valued at $1,451,000 after acquiring an additional 249 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Up 0.3 %

BKH opened at $64.12 on Friday. The company has a 50 day moving average of $61.06 and a 200 day moving average of $58.20. 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 $65.59. The company has a market cap of $4.59 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 4.62 and a beta of 0.69.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s payout ratio is 69.89%.

Analyst Ratings Changes

BKH has been the subject of several analyst reports. Wells Fargo & Company raised their price objective 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. Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average 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.