Martingale Asset Management L P Boosts Stake in Black Hills Co. (NYSE:BKH)

Martingale Asset Management L P grew its stake in shares of Black Hills Co. (NYSE:BKH) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,683 shares of the utilities provider’s stock after buying an additional 8,261 shares during the quarter. Martingale Asset Management L P’s holdings in Black Hills were worth $4,381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Signaturefd LLC raised its position in shares of Black Hills by 4.1% during the 2nd quarter. Signaturefd LLC now owns 4,736 shares of the utilities provider’s stock valued at $258,000 after buying an additional 188 shares in the last quarter. Lesa Sroufe & Co raised its position in shares of Black Hills by 0.5% during the 2nd quarter. Lesa Sroufe & Co now owns 43,294 shares of the utilities provider’s stock valued at $2,354,000 after buying an additional 231 shares in the last quarter. BancFirst Trust & Investment Management raised its position in shares of Black Hills by 5.7% during the 2nd quarter. BancFirst Trust & Investment Management now owns 4,326 shares of the utilities provider’s stock valued at $234,000 after buying an additional 233 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Black Hills by 0.9% during the 2nd quarter. Acadian Asset Management LLC now owns 26,694 shares of the utilities provider’s stock valued at $1,451,000 after buying an additional 249 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Black Hills by 84.9% during the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after buying an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BKH. Scotiabank raised their price objective on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company raised their price objective on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.25.

Black Hills Stock Up 0.3 %

Shares of NYSE BKH opened at $64.12 on Friday. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 4.62 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 fifty day moving average is $61.06 and its 200 day moving average is $58.20. Black Hills Co. has a 52 week low of $49.33 and a 52 week high of $65.59.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) 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.