Verition Fund Management LLC Boosts Stock Holdings in Black Hills Co. (NYSE:BKH)

Verition Fund Management LLC lifted its stake in shares of Black Hills Co. (NYSE:BKH - Free Report) by 264.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,139 shares of the utilities provider's stock after acquiring an additional 20,425 shares during the period. Verition Fund Management LLC's holdings in Black Hills were worth $1,720,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Blue Trust Inc. increased its holdings in shares of Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 265 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Black Hills during the 3rd quarter valued at $45,000. Quarry LP raised its holdings in Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider's stock worth $46,000 after buying an additional 515 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake 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 buying an additional 807 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Black Hills by 25.2% during the second quarter. Crewe Advisors LLC now owns 2,055 shares of the utilities provider's stock valued at $112,000 after buying an additional 414 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Black Hills Stock Down 1.4 %

Shares of NYSE BKH traded down $0.85 during trading on Friday, hitting $61.92. The stock had a trading volume of 362,897 shares, compared to its average volume of 492,429. 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 fifty day moving average of $61.29 and a two-hundred day moving average of $58.47. The company has a market capitalization of $4.43 billion, a PE ratio of 16.65, a PEG ratio of 4.55 and a beta of 0.71. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were issued a dividend of $0.65 per share. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.20%. 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.