HighTower Advisors LLC Boosts Stake in Black Hills Co. (NYSE:BKH)

HighTower Advisors LLC raised its position in Black Hills Co. (NYSE:BKH) by 19.3% during the third quarter, HoldingsChannel.com reports. The firm owned 102,335 shares of the utilities provider’s stock after buying an additional 16,522 shares during the quarter. HighTower Advisors LLC’s holdings in Black Hills were worth $6,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. increased its position 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 worth $35,000 after acquiring an additional 265 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Black Hills in the third quarter worth $45,000. Quarry LP increased its position in shares of Black Hills by 158.0% in the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in 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 purchasing an additional 807 shares in the last quarter. Finally, Crewe Advisors LLC increased its holdings in Black Hills by 25.2% in the 2nd 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 in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Scotiabank increased their target price on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and an average target price of $60.25.

Black Hills Stock Down 0.9 %

Shares of Black Hills stock opened at $61.38 on Tuesday. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $65.59. The business has a 50-day moving average of $61.30 and a 200-day moving average of $58.54. 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 company has a market capitalization of $4.39 billion, a PE ratio of 16.50, a P/E/G ratio of 4.47 and a beta of 0.71.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s payout ratio is currently 69.89%.

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.