BlueCrest Capital Management Ltd Takes $395,000 Position in Black Hills Co. (NYSE:BKH)

BlueCrest Capital Management Ltd purchased a new stake in shares of Black Hills Co. (NYSE:BKH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 6,458 shares of the utilities provider’s stock, valued at approximately $395,000.

Several other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in shares of Black Hills by 31.7% in the second quarter. AQR Capital Management LLC now owns 1,147,939 shares of the utilities provider’s stock valued at $62,425,000 after buying an additional 275,994 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Black Hills by 54.5% during the 2nd quarter. Victory Capital Management Inc. now owns 481,415 shares of the utilities provider’s stock worth $26,179,000 after acquiring an additional 169,827 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Black Hills by 54.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 329,478 shares of the utilities provider’s stock valued at $17,917,000 after acquiring an additional 116,730 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Black Hills by 324.7% in the second quarter. Mackenzie Financial Corp now owns 127,243 shares of the utilities provider’s stock worth $6,919,000 after acquiring an additional 97,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Black Hills by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 978,497 shares of the utilities provider’s stock worth $53,210,000 after purchasing an additional 78,958 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Up 0.3 %

Shares of NYSE:BKH opened at $64.12 on Friday. The company has a 50 day moving average of $61.06 and a 200-day moving average of $58.20. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 4.62 and a beta of 0.69. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83.

Black Hills Dividend Announcement

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 given 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 payout ratio is 69.89%.

Analyst Ratings Changes

BKH has been the subject of a number of research reports. Scotiabank raised their price target on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company lifted their target price 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 equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and an average target price of $60.25.

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.