Black Hills Co. (NYSE:BKH) Shares Bought by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. grew its position in Black Hills Co. (NYSE:BKH) by 9.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,182 shares of the utilities provider’s stock after acquiring an additional 1,170 shares during the period. Meeder Advisory Services Inc.’s holdings in Black Hills were worth $806,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Leeward Investments LLC MA boosted its position in Black Hills by 5.6% during the second quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock worth $9,253,000 after purchasing an additional 9,048 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Black Hills by 161.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after buying an additional 33,600 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Black Hills in the 3rd quarter valued at $1,807,000. Burney Co. increased its holdings in Black Hills by 6.6% in the 2nd quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock worth $4,326,000 after acquiring an additional 4,915 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in Black Hills by 34.4% during the second quarter. Hsbc Holdings PLC now owns 108,024 shares of the utilities provider’s stock worth $5,854,000 after acquiring an additional 27,677 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on BKH shares. Wells Fargo & Company boosted their target price on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Scotiabank boosted 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 equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $58.00.

Black Hills Stock Performance

BKH opened at $62.72 on Wednesday. The firm has a market capitalization of $4.49 billion, a PE ratio of 16.86, a PEG ratio of 4.53 and a beta of 0.69. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $63.60. The firm’s 50-day moving average price is $60.60 and its 200 day moving average price is $57.88.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be given a $0.65 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.15%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

About Black Hills

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.