Swiss National Bank Raises Position in Black Hills Co. (NYSE:BKH)

Swiss National Bank raised its holdings in shares of Black Hills Co. (NYSE:BKH) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,679 shares of the utilities provider’s stock after acquiring an additional 500 shares during the quarter. Swiss National Bank’s holdings in Black Hills were worth $8,232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Black Hills by 31.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after purchasing an additional 275,994 shares during the period. Victory Capital Management Inc. raised its position in shares of Black Hills by 54.5% during the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock valued at $26,179,000 after purchasing an additional 169,827 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Black Hills by 54.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock valued at $17,917,000 after purchasing an additional 116,730 shares during the period. Mackenzie Financial Corp raised its position in shares of Black Hills by 324.7% during the 2nd quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock valued at $6,919,000 after purchasing an additional 97,285 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Black Hills by 8.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock valued at $53,210,000 after purchasing an additional 78,958 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

Shares of NYSE BKH opened at $64.71 on Tuesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The company has a market cap of $4.63 billion, a P/E ratio of 17.39, a P/E/G ratio of 4.65 and a beta of 0.69. The firm’s fifty day moving average is $60.89 and its two-hundred day moving average is $58.08. Black Hills Co. has a 52-week low of $49.33 and a 52-week high of $65.59.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.02%. Black Hills’s dividend payout ratio is currently 69.89%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $60.25.

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.