Citigroup Inc. Has $5.51 Million Stake in Black Hills Co. (NYSE:BKH)

Citigroup Inc. increased its position in Black Hills Co. (NYSE:BKH - Free Report) by 87.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 90,093 shares of the utilities provider's stock after purchasing an additional 41,944 shares during the period. Citigroup Inc. owned about 0.13% of Black Hills worth $5,506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in Black Hills by 4.1% during the second quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider's stock valued at $258,000 after buying an additional 188 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Black Hills by 0.9% during the 2nd quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider's stock valued at $1,451,000 after purchasing an additional 249 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock worth $35,000 after buying an additional 265 shares during the last quarter. Inspire Investing LLC lifted its holdings in Black Hills by 4.1% in the 3rd quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider's stock worth $412,000 after purchasing an additional 266 shares during the last quarter. Finally, AMG National Trust Bank grew its holdings in Black Hills by 1.0% during the second quarter. AMG National Trust Bank now owns 34,596 shares of the utilities provider's stock valued at $1,881,000 after purchasing an additional 327 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Price Performance

NYSE:BKH traded down $1.29 during mid-day trading on Monday, reaching $62.78. 468,575 shares of the company were exchanged, compared to its average volume of 473,738. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The company has a fifty day moving average of $61.13 and a 200 day moving average of $58.28. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. The stock has a market cap of $4.49 billion, a PE ratio of 16.85, a PEG ratio of 4.63 and a beta of 0.69.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were given a dividend of $0.65 per share. The ex-dividend date was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.14%. Black Hills's payout ratio is presently 69.89%.

Analyst Ratings Changes

Separately, Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $60.25.

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.