Envestnet Portfolio Solutions Inc. Acquires 1,959 Shares of BHP Group Limited (NYSE:BHP)

Envestnet Portfolio Solutions Inc. raised its holdings in shares of BHP Group Limited (NYSE:BHP) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,382 shares of the mining company’s stock after purchasing an additional 1,959 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in BHP Group were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BHP. Charles Schwab Investment Management Inc. raised its holdings in shares of BHP Group by 17.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 153,170 shares of the mining company’s stock valued at $9,513,000 after acquiring an additional 22,677 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in BHP Group during the 3rd quarter valued at $294,000. Cerity Partners LLC raised its holdings in BHP Group by 25.5% in the 3rd quarter. Cerity Partners LLC now owns 84,592 shares of the mining company’s stock worth $5,257,000 after purchasing an additional 17,191 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in shares of BHP Group by 32.5% in the 3rd quarter. Kingsview Wealth Management LLC now owns 13,051 shares of the mining company’s stock worth $811,000 after purchasing an additional 3,201 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of BHP Group by 594.2% during the third quarter. Larson Financial Group LLC now owns 2,874 shares of the mining company’s stock valued at $179,000 after buying an additional 2,460 shares during the period. Hedge funds and other institutional investors own 3.79% of the company’s stock.

Analysts Set New Price Targets

BHP has been the subject of several research analyst reports. StockNews.com lowered shares of BHP Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Clarkson Capital upgraded BHP Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group decreased their price objective on BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, BHP Group presently has an average rating of “Buy” and an average price target of $53.00.

BHP Group Stock Up 0.3 %

BHP stock opened at $49.32 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.70 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $50.03 and a 200 day moving average of $52.52. BHP Group Limited has a twelve month low of $48.06 and a twelve month high of $63.21. The firm has a market cap of $125.06 billion, a PE ratio of 11.21 and a beta of 0.90.

BHP Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, March 7th will be issued a $1.00 dividend. This represents a dividend yield of 4.8%. The ex-dividend date is Friday, March 7th. BHP Group’s payout ratio is 44.77%.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.