WCM Investment Management LLC Takes $1.44 Million Position in Black Hills Co. (NYSE:BKH)

WCM Investment Management LLC acquired a new stake in shares of Black Hills Co. (NYSE:BKH - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 23,539 shares of the utilities provider's stock, valued at approximately $1,437,000.

Other large investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC purchased a new position in shares of Black Hills during the 1st quarter valued at about $31,000. Blue Trust Inc. lifted 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 purchasing an additional 265 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Black Hills in the 3rd quarter worth approximately $45,000. Quarry LP lifted its holdings in Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after purchasing an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in Black Hills by 972.3% in 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 in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BKH has been the topic of several analyst reports. Scotiabank boosted their target price on Black Hills from $54.00 to $63.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price objective on Black Hills from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $58.00.

Black Hills Stock Up 1.3 %

NYSE:BKH traded up $0.80 during mid-day trading on Wednesday, hitting $62.57. 260,795 shares of the company's stock traded hands, compared to its average volume of 470,983. The company has a fifty day moving average of $60.31 and a 200 day moving average of $57.62. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $63.01. The company has a market capitalization of $4.48 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.46 and a beta of 0.69. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12.

Black Hills Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills's dividend payout ratio is currently 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.