Raymond James Trust N.A. Makes New Investment in Black Hills Co. (NYSE:BKH)

Raymond James Trust N.A. acquired a new stake in shares of Black Hills Co. (NYSE:BKH) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,578 shares of the utilities provider’s stock, valued at approximately $219,000.

Several other hedge funds have also recently modified their holdings of BKH. AQR Capital Management LLC raised its stake in Black Hills by 31.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock worth $62,425,000 after acquiring an additional 275,994 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Black Hills by 54.5% in the second quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after purchasing an additional 169,827 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Black Hills by 54.9% during the second quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock worth $17,917,000 after purchasing an additional 116,730 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Black Hills by 324.7% during the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after purchasing an additional 97,285 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Black Hills by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after buying an additional 78,958 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Up 0.6 %

BKH stock opened at $63.94 on Friday. The firm’s fifty day moving average is $61.00 and its 200 day moving average is $58.16. The firm has a market cap of $4.58 billion, a PE ratio of 17.19, a P/E/G ratio of 4.67 and a beta of 0.69. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.07%. Black Hills’s payout ratio is 69.89%.

Analysts Set New Price Targets

Several research analysts recently issued reports on BKH shares. Wells Fargo & Company raised their target price on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank boosted their price objective on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.25.

Black Hills 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.