Retirement Systems of Alabama Has $4.97 Million Holdings in Black Hills Corporation $BKH

Retirement Systems of Alabama lifted its holdings in Black Hills Corporation (NYSE:BKH) by 1.7% during the 2nd quarter, Holdings Channel reports. The fund owned 88,623 shares of the utilities provider’s stock after acquiring an additional 1,456 shares during the quarter. Retirement Systems of Alabama’s holdings in Black Hills were worth $4,972,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Black Hills by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,634,076 shares of the utilities provider’s stock worth $523,657,000 after purchasing an additional 31,853 shares during the last quarter. AQR Capital Management LLC raised its position in Black Hills by 1.7% in the 1st quarter. AQR Capital Management LLC now owns 888,412 shares of the utilities provider’s stock worth $53,829,000 after purchasing an additional 14,437 shares during the last quarter. Nuveen LLC bought a new position in Black Hills in the 1st quarter worth approximately $43,690,000. Victory Capital Management Inc. raised its position in Black Hills by 18.2% in the 1st quarter. Victory Capital Management Inc. now owns 652,003 shares of the utilities provider’s stock worth $39,544,000 after purchasing an additional 100,421 shares during the last quarter. Finally, Millennium Management LLC raised its position in Black Hills by 25.1% in the 1st quarter. Millennium Management LLC now owns 579,797 shares of the utilities provider’s stock worth $35,165,000 after purchasing an additional 116,338 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on BKH. Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Black Hills in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Black Hills has a consensus rating of “Hold” and an average price target of $66.00.

Black Hills Stock Performance

Shares of Black Hills stock opened at $64.68 on Wednesday. The firm has a fifty day moving average of $61.17 and a two-hundred day moving average of $59.35. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 2.95 and a beta of 0.73. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $66.26. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $0.676 per share. The ex-dividend date is Monday, November 17th. This represents a $2.70 annualized dividend and a dividend yield of 4.2%. Black Hills’s payout ratio is presently 68.01%.

About Black Hills

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.