Aigen Investment Management LP Buys 8,444 Shares of Black Hills Co. (NYSE:BKH)

Aigen Investment Management LP grew its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 166.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,512 shares of the utilities provider's stock after purchasing an additional 8,444 shares during the quarter. Aigen Investment Management LP's holdings in Black Hills were worth $826,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new position in shares of Black Hills during the 1st quarter worth approximately $31,000. Blue Trust Inc. increased its holdings in shares of Black Hills by 84.9% during the 3rd 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 acquired a new position in shares of Black Hills during the 3rd quarter worth approximately $45,000. Quarry LP increased its holdings in shares of Black Hills by 158.0% during the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after acquiring an additional 515 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of 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 acquiring an additional 807 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

Analysts Set New Price Targets

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

Black Hills Price Performance

Shares of NYSE:BKH traded up $1.38 during trading on Wednesday, reaching $63.15. 970,666 shares of the company traded hands, compared to its average volume of 474,209. The company's 50 day moving average is $60.38 and its two-hundred day moving average is $57.66. The firm has a market capitalization of $4.52 billion, a PE ratio of 16.98, a PEG ratio of 4.46 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $63.18.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.12%. Black Hills's payout ratio is 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.