World Investment Advisors LLC Takes $1.19 Million Position in Black Hills Co. (NYSE:BKH)

World Investment Advisors LLC acquired a new position in shares of Black Hills Co. (NYSE:BKH - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,387 shares of the utilities provider's stock, valued at approximately $1,185,000.

Several other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of Black Hills by 2.1% during the third 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 during the period. Zimmer Partners LP acquired a new position in Black Hills in the third quarter valued at about $96,374,000. AQR Capital Management LLC boosted its position in Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider's stock valued at $62,425,000 after buying an additional 275,994 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider's stock worth $53,210,000 after buying an additional 78,958 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Black Hills by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider's stock worth $51,622,000 after buying an additional 3,544 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Black Hills Price Performance

BKH traded down $0.18 during midday trading on Monday, hitting $60.78. The company had a trading volume of 459,253 shares, compared to its average volume of 471,929. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The firm's 50-day simple moving average is $61.36 and its 200-day simple moving average is $58.72. The company has a market capitalization of $4.35 billion, a PE ratio of 16.39, a P/E/G ratio of 4.41 and a beta of 0.71. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, November 18th. Black Hills's dividend payout ratio is 69.89%.

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.