Jane Street Group LLC Trims Stake in Black Hills Co. (NYSE:BKH)

Jane Street Group LLC lowered its stake in Black Hills Co. (NYSE:BKH) by 70.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,928 shares of the utilities provider’s stock after selling 126,283 shares during the quarter. Jane Street Group LLC’s holdings in Black Hills were worth $3,296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its position in shares of Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after buying an additional 34,129 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Black Hills by 161.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after acquiring an additional 33,600 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Black Hills by 19.3% during the third quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock valued at $6,257,000 after buying an additional 16,522 shares during the period. CWA Asset Management Group LLC purchased a new stake in shares of Black Hills in the third quarter worth approximately $1,807,000. Finally, Burney Co. lifted its stake in shares of Black Hills by 6.6% during the 2nd quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock worth $4,326,000 after acquiring an additional 4,915 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Scotiabank upped their price objective on Black Hills from $63.00 to $67.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.25.

Black Hills Stock Performance

Shares of Black Hills stock opened at $57.97 on Friday. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59. The stock’s fifty day moving average price is $61.36 and its 200-day moving average price is $58.77. The firm has a market cap of $4.15 billion, a P/E ratio of 15.58, a P/E/G ratio of 4.41 and a beta of 0.71. 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 Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.49%. Black Hills’s dividend payout ratio (DPR) is presently 69.89%.

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.