JPMorgan Chase & Co. Boosts Stake in Black Hills Co. (NYSE:BKH)

JPMorgan Chase & Co. increased its position in Black Hills Co. (NYSE:BKH) by 16.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 408,877 shares of the utilities provider’s stock after purchasing an additional 56,440 shares during the quarter. JPMorgan Chase & Co.’s holdings in Black Hills were worth $24,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC lifted its position in Black Hills by 0.9% during the second quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock valued at $1,451,000 after buying an additional 249 shares during the period. Blue Trust Inc. increased its stake in shares of Black Hills by 84.9% in the 3rd 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. Inspire Investing LLC lifted its position in Black Hills by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider’s stock valued at $412,000 after acquiring an additional 266 shares during the period. Captrust Financial Advisors boosted its stake in Black Hills by 5.8% during the third quarter. Captrust Financial Advisors now owns 5,904 shares of the utilities provider’s stock worth $361,000 after acquiring an additional 325 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in Black Hills by 2.7% in the third quarter. D.A. Davidson & CO. now owns 13,667 shares of the utilities provider’s stock worth $835,000 after purchasing an additional 365 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank boosted 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, December 12th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Black Hills currently has an average rating of “Hold” and a consensus price target of $61.25.

Black Hills Stock Performance

Shares of BKH stock opened at $56.14 on Wednesday. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 15.09, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72. 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 Co. has a one year low of $49.33 and a one year high of $65.59. The company’s 50-day moving average is $60.68 and its 200 day moving average is $59.27.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s 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.