JPMorgan Chase & Co. Raises Position in Black Hills Co. (NYSE:BKH)

JPMorgan Chase & Co. raised its holdings in shares of Black Hills Co. (NYSE:BKH) by 16.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 408,877 shares of the utilities provider’s stock after buying an additional 56,440 shares during the period. JPMorgan Chase & Co. owned about 0.57% of Black Hills worth $24,991,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKH. Thrivent Financial for Lutherans lifted its stake in shares of Black Hills by 19.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after acquiring an additional 34,129 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Black Hills by 161.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after purchasing an additional 33,600 shares during the period. HighTower Advisors LLC lifted its position in Black Hills by 19.3% in the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after purchasing an additional 16,522 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Black Hills during the third quarter valued at approximately $1,807,000. Finally, Hsbc Holdings PLC grew its holdings in shares of Black Hills by 34.4% in the second quarter. Hsbc Holdings PLC now owns 108,024 shares of the utilities provider’s stock worth $5,854,000 after purchasing an additional 27,677 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Black Hills Price Performance

Shares of Black Hills stock opened at $56.14 on Wednesday. The business has a 50 day moving average of $60.68 and a 200 day moving average of $59.27. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $65.59. The company has a market cap of $4.02 billion, a PE ratio of 15.09, a P/E/G ratio of 4.41 and a beta of 0.72. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.63%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

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.