Geode Capital Management LLC Acquires 33,853 Shares of Black Hills Co. (NYSE:BKH)

Geode Capital Management LLC raised its stake in Black Hills Co. (NYSE:BKH) by 2.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,663,157 shares of the utilities provider’s stock after buying an additional 33,853 shares during the quarter. Geode Capital Management LLC’s holdings in Black Hills were worth $101,671,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Barclays PLC lifted its position in shares of Black Hills by 4.5% during the third quarter. Barclays PLC now owns 500,826 shares of the utilities provider’s stock valued at $30,610,000 after purchasing an additional 21,697 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Black Hills by 82.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 22,228 shares of the utilities provider’s stock valued at $1,359,000 after acquiring an additional 10,016 shares during the last quarter. Zimmer Partners LP bought a new stake in Black Hills during the third quarter worth $96,374,000. EP Wealth Advisors LLC purchased a new position in Black Hills in the third quarter worth $204,000. Finally, Stifel Financial Corp grew its stake in Black Hills by 7.1% in the 3rd quarter. Stifel Financial Corp now owns 80,727 shares of the utilities provider’s stock valued at $4,934,000 after purchasing an additional 5,373 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Black Hills Price Performance

Black Hills stock opened at $57.73 on Thursday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. The firm has a market capitalization of $4.13 billion, a P/E ratio of 15.52, a PEG ratio of 4.41 and a beta of 0.71. The business has a fifty day moving average price of $61.37 and a 200-day moving average price of $58.78.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio is presently 69.89%.

Analysts Set New Price Targets

Separately, Scotiabank increased their price objective on Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.25.

Black Hills 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.