Bessemer Group Inc. raised its stake in Black Hills Co. (NYSE:BKH – Free Report) by 1,991.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,192 shares of the utilities provider’s stock after acquiring an additional 1,135 shares during the period. Bessemer Group Inc.’s holdings in Black Hills were worth $75,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Black Hills by 2.2% in the third quarter. Vanguard Group Inc. now owns 6,969,058 shares of the utilities provider’s stock valued at $472,015,000 after purchasing an additional 151,038 shares in the last quarter. State Street Corp raised its position in shares of Black Hills by 2.7% in the 3rd quarter. State Street Corp now owns 6,678,201 shares of the utilities provider’s stock valued at $452,315,000 after buying an additional 178,522 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Black Hills by 14.6% during the 2nd quarter. Macquarie Group Ltd. now owns 2,502,209 shares of the utilities provider’s stock worth $182,085,000 after acquiring an additional 318,024 shares during the period. Franklin Resources Inc. boosted its position in shares of Black Hills by 26.8% during the 4th quarter. Franklin Resources Inc. now owns 1,293,169 shares of the utilities provider’s stock worth $90,962,000 after acquiring an additional 273,200 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Black Hills by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 1,268,019 shares of the utilities provider’s stock valued at $89,192,000 after acquiring an additional 111,853 shares during the last quarter. 86.24% of the stock is currently owned by institutional investors.
Black Hills Stock Performance
NYSE BKH opened at $55.40 on Friday. The firm’s fifty day moving average price is $58.90 and its two-hundred day moving average price is $61.70. The stock has a market cap of $3.72 billion, a PE ratio of 14.85, a PEG ratio of 6.74 and a beta of 0.58. Black Hills Co. has a fifty-two week low of $53.88 and a fifty-two week high of $79.15. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.68 and a current ratio of 0.82.
Black Hills Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.625 dividend. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $2.50 annualized dividend and a dividend yield of 4.51%. Black Hills’s dividend payout ratio is 67.02%.
Analyst Ratings Changes
A number of research analysts recently issued reports on BKH shares. Mizuho decreased their price objective on shares of Black Hills from $60.00 to $56.00 in a research note on Wednesday, August 9th. StockNews.com started coverage on shares of Black Hills in a research note on Saturday, August 19th. They issued a “sell” rating on the stock. Finally, Wells Fargo & Company decreased their price objective on shares of Black Hills from $66.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, August 4th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $66.29.
Read Our Latest Research Report on BKH
Black Hills Company Profile
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 220,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,482 megawatts of generation capacity and 9,024 miles of electric transmission and distribution lines.
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