Black Hills Co. (NYSE:BKH) Stake Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Black Hills Co. (NYSE:BKH - Free Report) by 176.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,189 shares of the utilities provider's stock after purchasing an additional 8,419 shares during the quarter. Intech Investment Management LLC's holdings in Black Hills were worth $806,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Pathway Financial Advisers LLC acquired a new stake in Black Hills in the first quarter valued at approximately $31,000. Blue Trust Inc. raised its position in 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 purchasing an additional 265 shares during the period. Capital Performance Advisors LLP purchased a new stake in Black Hills in the third quarter valued at $45,000. Quarry LP raised its holdings in shares of 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 buying an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Black Hills by 972.3% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider's stock valued at $48,000 after buying an additional 807 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.2 %

Shares of BKH traded up $0.13 during midday trading on Friday, reaching $64.07. 254,173 shares of the company were exchanged, compared to its average volume of 473,760. The stock has a 50-day moving average price of $61.13 and a 200-day moving average price of $58.25. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 4.62 and a beta of 0.69. Black Hills Co. has a 1-year low of $49.33 and a 1-year 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.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills's dividend payout ratio (DPR) is 69.89%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Scotiabank upped their price target 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 raised their price target on Black Hills from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Black Hills has a consensus rating of "Hold" and an average target price of $60.25.

About Black Hills

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.