EP Wealth Advisors LLC Makes New Investment in Black Hills Co. (NYSE:BKH)

EP Wealth Advisors LLC bought a new stake in shares of Black Hills Co. (NYSE:BKH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,331 shares of the utilities provider’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BKH. Blue Trust Inc. lifted its position in Black Hills by 84.9% during the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Black Hills in the 3rd quarter worth about $45,000. Quarry LP raised 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 buying an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Black Hills by 972.3% in the 2nd 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 last quarter. Finally, Point72 DIFC Ltd purchased a new position in Black Hills in the third quarter worth about $82,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Black Hills Price Performance

Black Hills stock opened at $60.96 on Friday. Black Hills Co. has a 12-month low of $49.33 and a 12-month high of $65.59. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $61.36 and a 200-day moving average price of $58.68. The firm has a market capitalization of $4.36 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 4.41 and a beta of 0.71.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.27%. The ex-dividend date was Monday, November 18th. Black Hills’s payout ratio is currently 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.