World Investment Advisors LLC Purchases New Stake in Black Hills Co. (NYSE:BKH)

World Investment Advisors LLC acquired a new position in shares of Black Hills Co. (NYSE:BKH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 19,387 shares of the utilities provider’s stock, valued at approximately $1,185,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKH. Wealth Enhancement Advisory Services LLC boosted its position in shares of Black Hills by 22.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,625 shares of the utilities provider’s stock worth $252,000 after buying an additional 860 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Black Hills by 4.0% in the second quarter. Nisa Investment Advisors LLC now owns 50,636 shares of the utilities provider’s stock valued at $2,754,000 after purchasing an additional 1,960 shares during the last quarter. Summit Global Investments lifted its position in Black Hills by 18.3% during the second quarter. Summit Global Investments now owns 18,297 shares of the utilities provider’s stock worth $995,000 after buying an additional 2,834 shares during the period. AMG National Trust Bank lifted its holdings in shares of Black Hills by 1.0% during the 2nd quarter. AMG National Trust Bank now owns 34,596 shares of the utilities provider’s stock worth $1,881,000 after acquiring an additional 327 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Black Hills by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 949,278 shares of the utilities provider’s stock valued at $51,622,000 after buying an additional 3,544 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Price Performance

Shares of NYSE BKH opened at $60.96 on Monday. 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 company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 16.39, a price-to-earnings-growth ratio of 4.41 and a beta of 0.71. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The business has a 50 day simple moving average of $61.36 and a 200-day simple moving average of $58.72.

Black Hills Dividend Announcement

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 dividend of $0.65 per share. The ex-dividend date was Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.27%. Black Hills’s dividend payout ratio (DPR) is 69.89%.

Analyst Ratings Changes

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

About Black Hills

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.