AMG National Trust Bank Cuts Stake in Black Hills Co. (NYSE:BKH)

AMG National Trust Bank reduced its position in shares of Black Hills Co. (NYSE:BKH) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,427 shares of the utilities provider’s stock after selling 169 shares during the period. AMG National Trust Bank’s holdings in Black Hills were worth $2,104,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Pathway Financial Advisers LLC acquired a new position in Black Hills in the 1st quarter worth $31,000. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 265 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Black Hills in the third quarter valued at about $45,000. Quarry LP grew its stake in Black Hills by 158.0% during 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. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in Black Hills by 972.3% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 807 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Scotiabank increased their target price 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. 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. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Black Hills has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Price Performance

Shares of NYSE BKH opened at $62.98 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 4.53 and a beta of 0.69. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $63.60. The business has a 50 day simple moving average of $60.56 and a 200-day simple moving average of $57.84.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio is presently 69.89%.

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.