RIA Advisory Group LLC Acquires Shares of 7,324 Black Hills Co. (NYSE:BKH)

RIA Advisory Group LLC acquired a new stake in shares of Black Hills Co. (NYSE:BKH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,324 shares of the utilities provider’s stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKH. Natixis Advisors LLC raised its position in shares of Black Hills by 14.1% in the third quarter. Natixis Advisors LLC now owns 20,034 shares of the utilities provider’s stock valued at $1,224,000 after buying an additional 2,475 shares during the last quarter. Barnett & Company Inc. acquired a new stake in Black Hills during the third quarter worth approximately $446,000. Aigen Investment Management LP increased its holdings in shares of Black Hills by 166.6% in the 3rd quarter. Aigen Investment Management LP now owns 13,512 shares of the utilities provider’s stock valued at $826,000 after acquiring an additional 8,444 shares during the period. WCM Investment Management LLC acquired a new position in Black Hills in the 3rd quarter valued at $1,437,000. Finally, Atria Investments Inc increased its stake in Black Hills by 18.7% in the 3rd quarter. Atria Investments Inc now owns 5,874 shares of the utilities provider’s stock valued at $359,000 after buying an additional 926 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BKH has been the topic of several recent research reports. Scotiabank boosted their price objective on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their target price on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat.com, Black Hills presently has an average rating of “Hold” and an average target price of $58.00.

Black Hills Stock Up 0.1 %

Shares of Black Hills stock traded up $0.06 on Friday, hitting $62.74. 502,865 shares of the company’s stock traded hands, compared to its average volume of 475,153. The stock has a market cap of $4.49 billion, a P/E ratio of 16.87, a PEG ratio of 4.56 and a beta of 0.69. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. The firm’s 50-day moving average is $60.49 and its 200 day moving average is $57.75. Black Hills Co. has a 52-week low of $49.33 and a 52-week high of $63.60.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.14%. Black Hills’s payout ratio is 69.89%.

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.