Daiwa Securities Group Inc. Buys 466 Shares of Black Hills Co. (NYSE:BKH)

Daiwa Securities Group Inc. increased its stake in shares of Black Hills Co. (NYSE:BKH) by 6.6% in the third quarter, Holdings Channel reports. The firm owned 7,482 shares of the utilities provider’s stock after buying an additional 466 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Black Hills were worth $457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew 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 worth $35,000 after buying an additional 265 shares during the period. Capital Performance Advisors LLP bought a new position in Black Hills during the 3rd quarter worth approximately $45,000. Quarry LP grew its holdings in Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 515 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its stake in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 807 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Black Hills in the first quarter worth $83,000. Institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, 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 report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.25.

Black Hills Price Performance

NYSE BKH opened at $64.07 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 4.62 and a beta of 0.69. The business has a 50 day simple moving average of $61.13 and a 200 day simple moving average of $58.25. Black Hills Co. has a 52-week low of $49.33 and a 52-week high of $65.59.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders 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 4.06%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio 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.