ClearAlpha Technologies LP Invests $792,000 in Black Hills Co. (NYSE:BKH)

ClearAlpha Technologies LP acquired a new stake in shares of Black Hills Co. (NYSE:BKH) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 12,959 shares of the utilities provider’s stock, valued at approximately $792,000.

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its position in shares of Black Hills by 15.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 44,777 shares of the utilities provider’s stock valued at $2,445,000 after purchasing an additional 5,906 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Black Hills in the 1st quarter worth $83,000. Jane Street Group LLC raised its holdings in shares of Black Hills by 99.3% during the 1st quarter. Jane Street Group LLC now owns 127,845 shares of the utilities provider’s stock worth $6,980,000 after acquiring an additional 63,687 shares during the period. Cetera Advisors LLC purchased a new position in shares of Black Hills during the 1st quarter worth $388,000. Finally, CWM LLC boosted its position in shares of Black Hills by 103.0% during the 2nd quarter. CWM LLC now owns 4,650 shares of the utilities provider’s stock valued at $253,000 after acquiring an additional 2,359 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE BKH opened at $64.07 on Monday. The stock has a market cap of $4.59 billion, a PE ratio of 17.22, a P/E/G ratio of 4.63 and a beta of 0.69. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The stock has a fifty day simple moving average of $61.13 and a 200-day simple moving average of $58.27. The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 1.20.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Monday, November 18th. Black Hills’s dividend payout ratio is presently 69.89%.

Analysts Set New Price Targets

Separately, Scotiabank lifted their target price on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Black Hills presently has a consensus rating of “Hold” and a consensus price target of $60.25.

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.