Black Hills Co. (NYSE:BKH) Shares Purchased by Citigroup Inc.

Citigroup Inc. lifted its holdings in shares of Black Hills Co. (NYSE:BKH) by 87.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,093 shares of the utilities provider’s stock after purchasing an additional 41,944 shares during the quarter. Citigroup Inc. owned about 0.13% of Black Hills worth $5,506,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BKH. Raymond James Trust N.A. acquired a new stake in Black Hills during the 3rd quarter worth approximately $219,000. Intech Investment Management LLC boosted its stake in Black Hills by 176.5% in the third quarter. Intech Investment Management LLC now owns 13,189 shares of the utilities provider’s stock valued at $806,000 after acquiring an additional 8,419 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Black Hills by 5.7% during the third quarter. Advisors Asset Management Inc. now owns 20,747 shares of the utilities provider’s stock valued at $1,268,000 after acquiring an additional 1,126 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Black Hills during the third quarter valued at approximately $1,463,000. Finally, Phocas Financial Corp. increased its holdings in shares of Black Hills by 40.7% during the third quarter. Phocas Financial Corp. now owns 182,635 shares of the utilities provider’s stock valued at $11,163,000 after purchasing an additional 52,800 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Shares of BKH stock opened at $64.07 on Monday. The stock’s fifty day simple moving average is $61.13 and its 200-day simple moving average is $58.27. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 17.22, a P/E/G ratio of 4.63 and a beta of 0.69. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $65.59.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s payout ratio is presently 69.89%.

Analyst Upgrades and Downgrades

Separately, Scotiabank raised their target price on Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and an average price target of $60.25.

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.