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

Geode Capital Management LLC lifted its position in shares of Black Hills Co. (NYSE:BKH) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,663,157 shares of the utilities provider’s stock after purchasing an additional 33,853 shares during the period. Geode Capital Management LLC owned about 2.32% of Black Hills worth $101,671,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in BKH. Signaturefd LLC grew its holdings in Black Hills by 4.1% during the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 188 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Black Hills by 0.9% in the second quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock worth $1,451,000 after purchasing an additional 249 shares during the last quarter. Blue Trust Inc. increased its holdings in Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares during the period. Inspire Investing LLC raised its position in Black Hills by 4.1% during the 3rd quarter. Inspire Investing LLC now owns 6,741 shares of the utilities provider’s stock worth $412,000 after purchasing an additional 266 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Black Hills by 5.8% during the 3rd quarter. Captrust Financial Advisors now owns 5,904 shares of the utilities provider’s stock worth $361,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

Shares of BKH opened at $57.73 on Thursday. The firm’s fifty day simple moving average is $61.37 and its two-hundred day simple moving average is $58.78. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $4.13 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 4.41 and a beta of 0.71.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.50%. Black Hills’s payout ratio is currently 69.89%.

Analyst Upgrades and Downgrades

Separately, Scotiabank increased their price target on Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.