Barnett & Company Inc. Makes New $446,000 Investment in Black Hills Co. (NYSE:BKH)

Barnett & Company Inc. acquired a new position in Black Hills Co. (NYSE:BKH) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,300 shares of the utilities provider’s stock, valued at approximately $446,000.

Several other large investors have also made changes to their positions in the business. Pathway Financial Advisers LLC acquired a new stake in shares of Black Hills during the 1st quarter worth approximately $31,000. Blue Trust Inc. raised its stake in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after buying an additional 265 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Black Hills during the 3rd quarter worth about $45,000. Quarry LP boosted its position in shares of Black Hills by 158.0% during the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 515 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its stake in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Trading Up 0.3 %

BKH traded up $0.18 during mid-day trading on Tuesday, reaching $62.56. The stock had a trading volume of 75,027 shares, compared to its average volume of 469,731. The firm’s fifty day simple moving average is $60.25 and its two-hundred day simple moving average is $57.57. The stock has a market capitalization of $4.36 billion, a P/E ratio of 16.78, a P/E/G ratio of 4.39 and a beta of 0.69. Black Hills Co. has a 52 week low of $48.27 and a 52 week high of $63.01. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s payout ratio is 69.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BKH shares. Wells Fargo & Company increased their target price on Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Scotiabank increased their price objective on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $58.00.

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.