Envestnet Portfolio Solutions Inc. Buys 1,959 Shares of BHP Group Limited (NYSE:BHP)

Envestnet Portfolio Solutions Inc. increased its position in BHP Group Limited (NYSE:BHP) by 15.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,382 shares of the mining company’s stock after acquiring an additional 1,959 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in BHP Group were worth $702,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in BHP Group by 17.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 153,170 shares of the mining company’s stock worth $9,513,000 after acquiring an additional 22,677 shares during the last quarter. Meridian Wealth Management LLC bought a new position in shares of BHP Group in the third quarter worth approximately $294,000. Cerity Partners LLC raised its stake in BHP Group by 25.5% in the third quarter. Cerity Partners LLC now owns 84,592 shares of the mining company’s stock valued at $5,257,000 after purchasing an additional 17,191 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in BHP Group by 32.5% during the third quarter. Kingsview Wealth Management LLC now owns 13,051 shares of the mining company’s stock valued at $811,000 after purchasing an additional 3,201 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of BHP Group by 594.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,874 shares of the mining company’s stock worth $179,000 after buying an additional 2,460 shares during the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Clarkson Capital raised shares of BHP Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group cut their price objective on BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut BHP Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $53.00.

BHP Group Price Performance

BHP opened at $49.32 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.70 and a quick ratio of 1.25. BHP Group Limited has a 1 year low of $48.06 and a 1 year high of $63.21. The stock’s 50 day simple moving average is $50.03 and its 200 day simple moving average is $52.52. The firm has a market cap of $125.06 billion, a price-to-earnings ratio of 11.21 and a beta of 0.90.

BHP Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, March 7th will be paid a $1.00 dividend. This represents a dividend yield of 4.8%. The ex-dividend date is Friday, March 7th. BHP Group’s payout ratio is 44.77%.

BHP Group Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.