Jane Street Group LLC Cuts Stock Position in Black Hills Co. (NYSE:BKH)

Jane Street Group LLC trimmed its stake in Black Hills Co. (NYSE:BKH) by 70.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,928 shares of the utilities provider’s stock after selling 126,283 shares during the quarter. Jane Street Group LLC owned 0.08% of Black Hills worth $3,296,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Stifel Financial Corp grew its holdings in shares of Black Hills by 7.1% during the third quarter. Stifel Financial Corp now owns 80,727 shares of the utilities provider’s stock valued at $4,934,000 after buying an additional 5,373 shares during the last quarter. Quantinno Capital Management LP purchased a new stake in Black Hills during the 3rd quarter valued at $275,000. Point72 DIFC Ltd purchased a new stake in Black Hills during the 3rd quarter valued at $82,000. Invenomic Capital Management LP bought a new stake in shares of Black Hills in the 3rd quarter worth $8,260,000. Finally, HighTower Advisors LLC raised its stake in shares of Black Hills by 19.3% in the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock worth $6,257,000 after purchasing an additional 16,522 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank lifted their price objective on Black Hills from $63.00 to $67.00 and gave the stock a “sector perform” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.25.

Black Hills Price Performance

Shares of BKH opened at $57.97 on Friday. The firm has a fifty day simple moving average of $61.36 and a two-hundred day simple moving average of $58.77. The firm has a market cap of $4.15 billion, a PE ratio of 15.58, a P/E/G ratio of 4.41 and a beta of 0.71. 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 Co. has a 1-year low of $49.33 and a 1-year high of $65.59.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend 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.