Paloma Partners Management Co acquired a new stake in shares of Black Hills Corp (NYSE:BKH) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 333,462 shares of the utilities provider’s stock, valued at approximately $20,045,000. Black Hills makes up 0.3% of Paloma Partners Management Co’s investment portfolio, making the stock its 23rd biggest position. Paloma Partners Management Co owned 0.62% of Black Hills as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky boosted its holdings in Black Hills by 56.2% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 52,318 shares of the utilities provider’s stock valued at $3,145,000 after purchasing an additional 18,815 shares in the last quarter. Luminus Management LLC acquired a new position in shares of Black Hills in the 4th quarter worth approximately $1,019,000. Cramer Rosenthal Mcglynn LLC boosted its holdings in shares of Black Hills by 2.4% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 582,879 shares of the utilities provider’s stock worth $35,037,000 after acquiring an additional 13,789 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Black Hills by 3.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,622,111 shares of the utilities provider’s stock worth $157,615,000 after acquiring an additional 98,247 shares in the last quarter. Finally, Clearbridge LLC acquired a new position in shares of Black Hills in the 4th quarter worth approximately $14,586,000. 98.18% of the stock is currently owned by institutional investors.
Black Hills Corp (NYSE:BKH) opened at $52.04 on Monday. The company has a market capitalization of $2,786.47, a P/E ratio of 15.58, a PEG ratio of 3.77 and a beta of 0.61. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 1.71. Black Hills Corp has a 1-year low of $50.49 and a 1-year high of $72.02.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.65%. The ex-dividend date was Wednesday, February 14th. Black Hills’s dividend payout ratio (DPR) is presently 56.89%.
Several research analysts have recently commented on BKH shares. JPMorgan Chase & Co. downgraded Black Hills from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Wednesday, February 7th. Credit Suisse Group downgraded Black Hills from an “outperform” rating to a “neutral” rating and set a $66.00 target price on the stock. in a report on Tuesday, January 9th. Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a report on Monday, November 13th. Finally, Williams Capital raised Black Hills from a “hold” rating to a “buy” rating and reduced their target price for the stock from $70.00 to $62.00 in a report on Wednesday, January 10th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $64.50.
Black Hills Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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