Cerity Partners LLC Increases Stock Position in Black Hills Co. (NYSE:BKH)

Cerity Partners LLC increased its position in shares of Black Hills Co. (NYSE:BKH) by 9.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,943 shares of the utilities provider’s stock after acquiring an additional 3,298 shares during the period. Cerity Partners LLC owned about 0.06% of Black Hills worth $2,380,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Black Hills by 15.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 44,777 shares of the utilities provider’s stock worth $2,445,000 after buying an additional 5,906 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Black Hills during the 1st quarter worth $83,000. Jane Street Group LLC boosted its stake in shares of Black Hills by 99.3% during the first quarter. Jane Street Group LLC now owns 127,845 shares of the utilities provider’s stock valued at $6,980,000 after acquiring an additional 63,687 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Black Hills during the 1st quarter worth about $388,000. Finally, CWM LLC lifted its stake in shares of Black Hills by 103.0% during the second quarter. CWM LLC now owns 4,650 shares of the utilities provider’s stock valued at $253,000 after buying an additional 2,359 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Black Hills Stock Performance

NYSE BKH opened at $64.07 on Monday. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $65.59. The business’s 50-day simple moving average is $61.13 and its 200-day simple moving average is $58.27. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. The firm has a market capitalization of $4.59 billion, a P/E ratio of 17.22, a P/E/G ratio of 4.63 and a beta of 0.69.

Black Hills Dividend Announcement

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

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.