Natixis Advisors LLC lifted its stake in Black Hills Co. (NYSE:BKH – Free Report) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,559 shares of the utilities provider’s stock after acquiring an additional 1,332 shares during the quarter. Natixis Advisors LLC’s holdings in Black Hills were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Black Hills in the 1st quarter worth approximately $31,000. Pathway Financial Advisers LLC bought a new stake in shares of Black Hills in the first quarter worth $31,000. Sunbelt Securities Inc. purchased a new position in Black Hills in the first quarter worth about $33,000. Riverview Trust Co purchased a new position in Black Hills in the first quarter worth about $38,000. Finally, Hexagon Capital Partners LLC grew its stake in shares of Black Hills by 77.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 732 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 319 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.
Black Hills Price Performance
Shares of NYSE:BKH opened at $59.55 on Thursday. The firm’s 50 day simple moving average is $57.82 and its two-hundred day simple moving average is $55.32. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.06 and a quick ratio of 0.94. The company has a market capitalization of $4.10 billion, a P/E ratio of 14.67 and a beta of 0.68. Black Hills Co. has a 1-year low of $46.43 and a 1-year high of $60.42.
Black Hills Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Monday, August 19th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.37%. The ex-dividend date was Monday, August 19th. Black Hills’s dividend payout ratio (DPR) is presently 64.04%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on BKH shares. Scotiabank increased their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Mizuho lifted their price target on shares of Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company upped their price objective on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.00.
Check Out Our Latest Analysis on Black Hills
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.
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