Hennessy Advisors Inc. Boosts Stock Position in Black Hills Co. (NYSE:BKH)

Hennessy Advisors Inc. increased its holdings in shares of Black Hills Co. (NYSE:BKH) by 5.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 47,147 shares of the utilities provider’s stock after acquiring an additional 2,500 shares during the period. Hennessy Advisors Inc.’s holdings in Black Hills were worth $2,759,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its position in Black Hills by 19.3% during the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock worth $12,882,000 after acquiring an additional 34,129 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Black Hills by 161.5% during the second quarter. Canada Pension Plan Investment Board now owns 54,400 shares of the utilities provider’s stock worth $2,958,000 after purchasing an additional 33,600 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Black Hills by 19.3% during the 3rd quarter. HighTower Advisors LLC now owns 102,335 shares of the utilities provider’s stock worth $6,257,000 after purchasing an additional 16,522 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in Black Hills in the 3rd quarter valued at about $1,807,000. Finally, Harbor Capital Advisors Inc. boosted its holdings in Black Hills by 4,751.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 16,154 shares of the utilities provider’s stock worth $945,000 after buying an additional 15,821 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE:BKH opened at $59.63 on Friday. The company has a market cap of $4.27 billion, a P/E ratio of 16.03, a P/E/G ratio of 4.00 and a beta of 0.72. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The company’s 50-day moving average price is $60.33 and its 200-day moving average price is $59.36. 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 firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 18th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date was Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is 69.89%.

Analyst Upgrades and Downgrades

Separately, Scotiabank raised their target price 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.25.

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.