Trexquant Investment LP purchased a new position in Black Hills Co. (NYSE:BKH – Get Rating) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,658 shares of the utilities provider’s stock, valued at approximately $630,000.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Black Hills by 2.7% in the first quarter. Vanguard Group Inc. now owns 6,709,733 shares of the utilities provider’s stock worth $516,784,000 after buying an additional 174,362 shares during the last quarter. State Street Corp lifted its position in Black Hills by 16.1% in the 1st quarter. State Street Corp now owns 6,059,252 shares of the utilities provider’s stock valued at $466,684,000 after acquiring an additional 838,590 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Black Hills by 8.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,524,608 shares of the utilities provider’s stock valued at $117,425,000 after purchasing an additional 115,792 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Black Hills by 2.0% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,114,585 shares of the utilities provider’s stock worth $85,845,000 after purchasing an additional 21,981 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Black Hills by 91.0% during the first quarter. Victory Capital Management Inc. now owns 846,747 shares of the utilities provider’s stock valued at $65,162,000 after purchasing an additional 403,387 shares in the last quarter. Institutional investors own 88.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on the company. Bank of America downgraded Black Hills from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $66.00 in a report on Thursday, October 13th. StockNews.com initiated coverage on shares of Black Hills in a report on Wednesday, October 12th. They set a “hold” rating for the company. Siebert Williams Shank raised their target price on shares of Black Hills to $84.00 in a report on Tuesday, September 13th. Finally, Wells Fargo & Company decreased their target price on shares of Black Hills from $68.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, November 4th.
Black Hills Price Performance
Black Hills Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 17th will be given a dividend of $0.625 per share. This is an increase from Black Hills’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, November 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.57%. Black Hills’s payout ratio is presently 62.66%.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines.
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