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

RIA Advisory Group LLC purchased a new stake in Black Hills Co. (NYSE:BKH) in the third quarter, Holdings Channel reports. The institutional investor purchased 7,324 shares of the utilities provider’s stock, valued at approximately $448,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Leeward Investments LLC MA raised its holdings in shares of Black Hills by 5.6% during the 2nd quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock valued at $9,253,000 after purchasing an additional 9,048 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Black Hills by 39.7% during the 1st quarter. Jupiter Asset Management Ltd. now owns 483,120 shares of the utilities provider’s stock valued at $26,378,000 after acquiring an additional 137,356 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Black Hills by 161.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock valued at $2,958,000 after acquiring an additional 33,600 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in Black Hills in the third quarter valued at about $1,807,000. Finally, Burney Co. boosted its position in Black Hills by 6.6% in the second quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock valued at $4,326,000 after buying an additional 4,915 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE:BKH traded up $0.06 during mid-day trading on Friday, reaching $62.74. 502,865 shares of the company’s stock were exchanged, compared to its average volume of 475,153. Black Hills Co. has a one year low of $49.33 and a one year high of $63.60. The firm has a market capitalization of $4.49 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 4.56 and a beta of 0.69. The business’s fifty day simple moving average is $60.49 and its two-hundred day simple moving average is $57.75. 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Scotiabank boosted their price target 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 upped their price target 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 research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $58.00.

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.