Luminus Management LLC acquired a new position in shares of Black Hills Corp (NYSE:BKH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,944 shares of the utilities provider’s stock, valued at approximately $1,019,000.
Several other institutional investors and hedge funds have also modified their holdings of BKH. Covenant Multifamily Offices LLC purchased a new position in shares of Black Hills during the 4th quarter worth approximately $102,000. Ffcm LLC increased its stake in shares of Black Hills by 1,201.5% during the 4th quarter. Ffcm LLC now owns 1,770 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 1,634 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Black Hills by 48.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the utilities provider’s stock worth $174,000 after purchasing an additional 940 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Black Hills by 2.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 81 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new position in shares of Black Hills during the 4th quarter worth approximately $223,000. 98.18% of the stock is owned by institutional investors and hedge funds.
Shares of Black Hills Corp (BKH) opened at $51.60 on Wednesday. The company has a market cap of $2,800.93, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.79 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 12 month low of $50.49 and a 12 month high of $72.02.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Thursday, February 15th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.90 annualized dividend and a dividend yield of 3.68%. Black Hills’s payout ratio is 56.89%.
A number of research analysts have recently weighed in on BKH shares. Williams Capital raised shares of Black Hills from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $70.00 to $62.00 in a research note on Wednesday, January 10th. Credit Suisse Group cut shares of Black Hills from an “outperform” rating to a “neutral” rating and set a $66.00 price objective for the company. in a research note on Tuesday, January 9th. Finally, JPMorgan Chase & Co. cut shares of Black Hills from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, February 7th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $64.50.
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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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