HighTower Advisors LLC Grows Holdings in Black Hills Co. (NYSE:BKH)

HighTower Advisors LLC raised its stake in Black Hills Co. (NYSE:BKH - Free Report) by 19.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,335 shares of the utilities provider's stock after purchasing an additional 16,522 shares during the period. HighTower Advisors LLC owned about 0.14% of Black Hills worth $6,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Holocene Advisors LP purchased a new stake in shares of Black Hills during the third quarter worth approximately $404,000. Centiva Capital LP acquired a new position in Black Hills during the 3rd quarter worth approximately $708,000. ClearAlpha Technologies LP purchased a new stake in shares of Black Hills in the 3rd quarter valued at approximately $792,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Black Hills in the 3rd quarter valued at $395,000. Finally, Verition Fund Management LLC lifted its position in shares of Black Hills by 264.8% during the 3rd quarter. Verition Fund Management LLC now owns 28,139 shares of the utilities provider's stock worth $1,720,000 after purchasing an additional 20,425 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their target price on Black Hills from $54.00 to $63.00 and gave the company a "sector perform" rating in a report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.25.

Black Hills Stock Performance

BKH stock remained flat at $61.38 during midday trading on Tuesday. 367,838 shares of the company's stock were exchanged, compared to its average volume of 471,613. The company's fifty day moving average price is $61.31 and its 200-day moving average price is $58.58. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. 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 $4.39 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 4.47 and a beta of 0.71.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills's dividend payout ratio (DPR) is currently 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.