Russell Investments Group Ltd. raised its stake in Black Hills Corp (NYSE:BKH) by 322.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 51,695 shares of the utilities provider’s stock after purchasing an additional 39,467 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Black Hills worth $3,560,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Black Hills by 8.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after purchasing an additional 146 shares during the last quarter. Advisor Group Inc. lifted its position in Black Hills by 7.7% in the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 151 shares during the last quarter. Flinton Capital Management LLC lifted its position in Black Hills by 68.8% in the second quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 1,056 shares during the last quarter. Denver Investment Advisors LLC bought a new stake in Black Hills in the second quarter valued at approximately $202,000. Finally, Suntrust Banks Inc. bought a new position in shares of Black Hills during the second quarter valued at approximately $202,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.
Shares of Black Hills Corp (NYSE:BKH) opened at $60.02 on Friday. Black Hills Corp has a 12 month low of $57.01 and a 12 month high of $72.02. The company has a market capitalization of $3,210.44, a price-to-earnings ratio of 17.71, a PEG ratio of 3.22 and a beta of 0.73. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 1.73.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $0.475 per share. The ex-dividend date was Thursday, November 16th. This is a boost from Black Hills’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a dividend yield of 3.17%. Black Hills’s dividend payout ratio (DPR) is 72.52%.
A number of equities analysts recently commented on the company. Royal Bank of Canada decreased their target price on Black Hills from $72.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Williams Capital downgraded Black Hills from a “buy” rating to a “hold” rating and decreased their target price for the company from $75.00 to $70.00 in a report on Friday, October 6th. Zacks Investment Research downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. J P Morgan Chase & Co increased their price objective on Black Hills from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a report on Monday, November 13th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Black Hills presently has an average rating of “Buy” and an average target price of $68.13.
Black Hills Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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