Phocas Financial Corp. lifted its holdings in shares of Black Hills Co. (NYSE:BKH - Free Report) by 40.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 182,635 shares of the utilities provider's stock after purchasing an additional 52,800 shares during the period. Phocas Financial Corp. owned 0.26% of Black Hills worth $11,163,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new stake in Black Hills in the first quarter worth $31,000. Blue Trust Inc. lifted its holdings in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $35,000 after acquiring an additional 265 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Black Hills in the third quarter valued at about $45,000. Quarry LP raised its holdings in 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 buying an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 807 shares in the last quarter. 86.71% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Scotiabank upped their target price on Black Hills from $54.00 to $63.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Wells Fargo & Company upped their target price on Black Hills from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat, Black Hills currently has an average rating of "Hold" and an average target price of $58.00.
Read Our Latest Analysis on BKH
Black Hills Stock Down 0.6 %
Shares of BKH traded down $0.37 during trading hours on Tuesday, hitting $62.59. The stock had a trading volume of 162,535 shares, compared to its average volume of 473,485. The firm has a 50 day simple moving average of $60.56 and a 200-day simple moving average of $57.84. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $63.60. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The firm has a market capitalization of $4.48 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 4.53 and a beta of 0.69.
Black Hills Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills's dividend payout ratio (DPR) is 69.89%.
About Black Hills
(
Free Report)
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.
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