57,361 Shares in Black Hills Co. (NYSE:BKH) Acquired by Paradiem LLC

Paradiem LLC acquired a new position in Black Hills Co. (NYSE:BKH) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 57,361 shares of the utilities provider’s stock, valued at approximately $3,357,000. Paradiem LLC owned about 0.08% of Black Hills at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Zimmer Partners LP bought a new position in Black Hills during the third quarter valued at approximately $96,374,000. Franklin Resources Inc. grew its position in Black Hills by 109.8% during the third quarter. Franklin Resources Inc. now owns 882,646 shares of the utilities provider’s stock valued at $53,356,000 after acquiring an additional 461,894 shares during the last quarter. AQR Capital Management LLC grew its position in Black Hills by 31.7% during the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after acquiring an additional 275,994 shares during the last quarter. Invenomic Capital Management LP bought a new position in Black Hills during the third quarter valued at approximately $8,260,000. Finally, Mackenzie Financial Corp grew its position in Black Hills by 324.7% during the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock valued at $6,919,000 after acquiring an additional 97,285 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.

Black Hills Stock Down 3.8 %

Shares of Black Hills stock opened at $57.49 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. Black Hills Co. has a 52-week low of $49.33 and a 52-week high of $65.59. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 4.27 and a beta of 0.72. The company’s 50 day moving average price is $60.12 and its 200-day moving average price is $59.50.

Black Hills Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.