Code Waechter LLC Increases Stake in Black Hills Co. (NYSE:BKH)

Code Waechter LLC lifted its stake in shares of Black Hills Co. (NYSE:BKH) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,102 shares of the utilities provider’s stock after buying an additional 515 shares during the quarter. Code Waechter LLC’s holdings in Black Hills were worth $416,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its position in shares of Black Hills by 11.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 16,510 shares of the utilities provider’s stock valued at $898,000 after purchasing an additional 1,749 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Black Hills by 0.9% during the second quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock worth $1,451,000 after purchasing an additional 249 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Black Hills by 14.8% in the second quarter. Daiwa Securities Group Inc. now owns 7,016 shares of the utilities provider’s stock valued at $382,000 after buying an additional 905 shares during the last quarter. American Century Companies Inc. raised its stake in Black Hills by 89.3% in the second quarter. American Century Companies Inc. now owns 20,962 shares of the utilities provider’s stock valued at $1,140,000 after buying an additional 9,886 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Black Hills during the 2nd quarter worth about $239,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank increased their price objective on Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.25.

Black Hills Trading Up 0.4 %

NYSE BKH opened at $55.94 on Tuesday. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 4.41 and a beta of 0.72. 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’s fifty day moving average price is $60.48 and its 200 day moving average price is $59.33.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date was Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is currently 69.89%.

Black Hills Company Profile

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.