Principal Financial Group Inc. Has $18.34 Million Stock Holdings in Black Hills Co. (NYSE:BKH)

Principal Financial Group Inc. boosted its position in shares of Black Hills Co. (NYSE:BKHGet Rating) by 16.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 251,969 shares of the utilities provider’s stock after buying an additional 36,044 shares during the quarter. Principal Financial Group Inc.’s holdings in Black Hills were worth $18,335,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new position in Black Hills during the 2nd quarter worth $745,000. Swiss National Bank lifted its stake in shares of Black Hills by 1.1% in the 2nd quarter. Swiss National Bank now owns 152,479 shares of the utilities provider’s stock valued at $11,096,000 after purchasing an additional 1,600 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of Black Hills by 0.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 31,828 shares of the utilities provider’s stock valued at $2,316,000 after purchasing an additional 149 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Black Hills in the 2nd quarter valued at $127,000. Finally, Advisors Asset Management Inc. lifted its stake in shares of Black Hills by 7.6% in the 2nd quarter. Advisors Asset Management Inc. now owns 10,766 shares of the utilities provider’s stock valued at $783,000 after purchasing an additional 764 shares during the period. Institutional investors and hedge funds own 88.08% of the company’s stock.

Analysts Set New Price Targets

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

Black Hills Price Performance

BKH opened at $69.56 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.88 and a debt-to-equity ratio of 1.38. Black Hills Co. has a 12 month low of $59.08 and a 12 month high of $80.95. The company has a fifty day simple moving average of $67.35 and a 200 day simple moving average of $72.09. The stock has a market cap of $4.53 billion, a P/E ratio of 17.43, a P/E/G ratio of 3.12 and a beta of 0.50.

Black Hills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 17th will be given a $0.625 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.59%. This is a boost from Black Hills’s previous quarterly dividend of $0.60. Black Hills’s dividend payout ratio is currently 62.66%.

About Black Hills

(Get Rating)

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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