Fmr LLC Grows Stake in Black Hills Co. (NYSE:BKH)

FMR LLC boosted its holdings in Black Hills Co. (NYSE:BKH - Free Report) by 8.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 117,828 shares of the utilities provider's stock after acquiring an additional 9,002 shares during the period. FMR LLC owned 0.16% of Black Hills worth $7,202,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. grew its stake 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 valued at $35,000 after buying an additional 265 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Black Hills during the 3rd quarter valued at about $45,000. Quarry LP grew its position in Black Hills by 158.0% in the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider's stock valued at $46,000 after acquiring an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock worth $48,000 after purchasing an additional 807 shares in the last quarter. Finally, Crewe Advisors LLC boosted its stake in shares of Black Hills by 25.2% in the second quarter. Crewe Advisors LLC now owns 2,055 shares of the utilities provider's stock valued at $112,000 after purchasing an additional 414 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Down 0.0 %

BKH stock traded down $0.02 during mid-day trading on Friday, reaching $60.96. The company had a trading volume of 389,689 shares, compared to its average volume of 470,488. The firm has a fifty day simple moving average of $61.34 and a 200 day simple moving average of $58.62. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 4.41 and a beta of 0.71. Black Hills Co. has a fifty-two week low of $49.33 and a fifty-two week high of $65.59.

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were paid a $0.65 dividend. 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 4.27%. Black Hills's dividend payout ratio is currently 69.89%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank upped their target price on shares of Black Hills from $63.00 to $67.00 and gave the stock a "sector perform" rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $61.25.

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.