Black Hills Co. (NYSE:BKH) Stake Increased by Swiss National Bank

Swiss National Bank grew its holdings in Black Hills Co. (NYSE:BKHGet Rating) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,479 shares of the utilities provider’s stock after purchasing an additional 1,600 shares during the period. Swiss National Bank’s holdings in Black Hills were worth $11,096,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Trust Co. of Vermont purchased a new stake in shares of Black Hills in the second quarter valued at $36,000. Meeder Asset Management Inc. raised its holdings in shares of Black Hills by 334.3% during the second quarter. Meeder Asset Management Inc. now owns 938 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 722 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of Black Hills during the second quarter worth $71,000. Lazard Asset Management LLC purchased a new stake in shares of Black Hills during the second quarter worth $127,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Black Hills by 120.0% during the first quarter. Geneos Wealth Management Inc. now owns 2,200 shares of the utilities provider’s stock worth $169,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 88.08% of the company’s stock.

Black Hills Trading Up 2.7 %

Black Hills stock opened at $68.31 on Friday. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.88 and a quick ratio of 0.65. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 3.04 and a beta of 0.50. Black Hills Co. has a one year low of $59.08 and a one year high of $80.95. The company’s fifty day moving average price is $67.70 and its two-hundred day moving average price is $72.20.

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.66%. This is an increase from Black Hills’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, November 16th. Black Hills’s dividend payout ratio is presently 62.66%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BKH shares. StockNews.com started coverage on Black Hills in a report on Wednesday, October 12th. They set a “hold” rating for the company. Siebert Williams Shank increased their price objective on Black Hills to $84.00 in a report on Tuesday, September 13th. Wells Fargo & Company cut their price objective on Black Hills from $68.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Finally, Bank of America downgraded shares of Black Hills from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $87.00 to $66.00 in a research report on Thursday, October 13th.

Black Hills Company Profile

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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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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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