Paradiem LLC Acquires Shares of 57,361 Black Hills Co. (NYSE:BKH)

Paradiem LLC acquired a new stake in shares of Black Hills Co. (NYSE:BKH) in the 4th quarter, Holdings Channel.com reports. The fund acquired 57,361 shares of the utilities provider’s stock, valued at approximately $3,357,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its position in Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after buying an additional 34,129 shares during the period. Canada Pension Plan Investment Board lifted its position in Black Hills by 161.5% during the second quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after buying an additional 33,600 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Black Hills by 4,751.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 16,154 shares of the utilities provider’s stock valued at $945,000 after acquiring an additional 15,821 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Black Hills by 19.3% during the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after acquiring an additional 16,522 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Black Hills during the third quarter valued at $1,807,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Scotiabank raised their price target 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 analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.25.

Black Hills Price Performance

Shares of NYSE:BKH opened at $57.49 on Thursday. Black Hills Co. has a 1-year low of $49.33 and a 1-year high of $65.59. The business has a fifty day moving average price of $60.12 and a 200-day moving average price of $59.50. The company has a market capitalization of $4.11 billion, a PE ratio of 15.45, a PEG ratio of 4.27 and a beta of 0.72. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were issued a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.52%. Black Hills’s payout ratio is 69.89%.

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.