Intech Investment Management LLC Purchases 8,419 Shares of Black Hills Co. (NYSE:BKH)

Intech Investment Management LLC increased its holdings in shares of Black Hills Co. (NYSE:BKH) by 176.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,189 shares of the utilities provider’s stock after acquiring an additional 8,419 shares during the period. Intech Investment Management LLC’s holdings in Black Hills were worth $806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in Black Hills by 15.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,777 shares of the utilities provider’s stock valued at $2,445,000 after acquiring an additional 5,906 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Black Hills in the first quarter valued at approximately $83,000. Jane Street Group LLC raised its position in Black Hills by 99.3% in the 1st quarter. Jane Street Group LLC now owns 127,845 shares of the utilities provider’s stock worth $6,980,000 after purchasing an additional 63,687 shares during the last quarter. Cetera Advisors LLC acquired a new position in Black Hills during the 1st quarter worth $388,000. Finally, Pathway Financial Advisers LLC bought a new position in Black Hills in the 1st quarter valued at $31,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Stock Performance

BKH stock opened at $64.12 on Friday. The business’s fifty day moving average is $61.06 and its 200-day moving average is $58.20. The company has a market cap of $4.59 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 4.62 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid 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 dividend yield of 4.05%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Scotiabank boosted their target price on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $60.25.

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.