Harbor Capital Advisors Inc. Increases Stock Position in Black Hills Co. (NYSE:BKH)

Harbor Capital Advisors Inc. raised its stake in Black Hills Co. (NYSE:BKH - Free Report) by 4,751.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,154 shares of the utilities provider's stock after buying an additional 15,821 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Black Hills were worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Black Hills by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,663,157 shares of the utilities provider's stock valued at $101,671,000 after acquiring an additional 33,853 shares in the last quarter. Zimmer Partners LP bought a new position in Black Hills in the third quarter valued at approximately $96,374,000. AQR Capital Management LLC increased its position in shares of Black Hills by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider's stock worth $62,425,000 after purchasing an additional 275,994 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Black Hills by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider's stock valued at $53,210,000 after buying an additional 78,958 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Black Hills by 109.8% in the third quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider's stock valued at $53,356,000 after buying an additional 461,894 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

Analyst Ratings Changes

Separately, Scotiabank raised their price target on Black Hills from $63.00 to $67.00 and gave the company a "sector perform" rating in a report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Black Hills presently has an average rating of "Hold" and an average price target of $61.25.

Black Hills Trading Up 1.0 %

Shares of BKH traded up $0.55 during trading hours on Tuesday, hitting $56.51. 281,599 shares of the stock were exchanged, compared to its average volume of 474,230. Black Hills Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59. The business has a 50-day moving average of $60.48 and a 200-day moving average of $59.33. The firm has a market capitalization of $4.04 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.60%. Black Hills's dividend payout ratio (DPR) is presently 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.