MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income boosted its position in shares of Black Hills Co. (NYSE:BKH – Get Rating) by 11.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 249,555 shares of the utilities provider’s stock after buying an additional 25,965 shares during the quarter. Black Hills makes up approximately 2.1% of MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income’s holdings, making the stock its 2nd largest holding. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income owned about 0.38% of Black Hills worth $19,221,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in BKH. Allspring Global Investments Holdings LLC acquired a new stake in Black Hills during the 4th quarter worth $2,184,000. Commonwealth Equity Services LLC increased its holdings in Black Hills by 3.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 10,824 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 313 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Black Hills by 17.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 43,051 shares of the utilities provider’s stock worth $3,038,000 after purchasing an additional 6,362 shares in the last quarter. Yousif Capital Management LLC bought a new position in Black Hills during the 4th quarter worth about $2,326,000. Finally, D.A. Davidson & CO. bought a new position in Black Hills during the 4th quarter worth about $590,000. Institutional investors and hedge funds own 85.37% of the company’s stock.
Black Hills Stock Down 0.8 %
Shares of NYSE BKH traded down $0.63 during mid-day trading on Friday, hitting $74.40. The company had a trading volume of 412,512 shares, compared to its average volume of 299,771. The company has a market capitalization of $4.82 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.95 and a beta of 0.49. The firm has a 50-day simple moving average of $72.95 and a two-hundred day simple moving average of $72.75. The company has a current ratio of 1.07, a quick ratio of 0.93 and a debt-to-equity ratio of 1.39. Black Hills Co. has a one year low of $61.95 and a one year high of $80.95.
Black Hills Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 18th will be issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Wednesday, August 17th. Black Hills’s payout ratio is currently 57.35%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on BKH shares. StockNews.com upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Tuesday, May 10th. Mizuho cut Black Hills from a “buy” rating to a “neutral” rating and increased their target price for the stock from $71.00 to $76.00 in a report on Friday, May 6th.
Insider Buying and Selling
In related news, Director Rebecca B. Roberts sold 500 shares of Black Hills stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $73.62, for a total transaction of $36,810.00. Following the completion of the transaction, the director now owns 6,445 shares in the company, valued at $474,480.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.71% of the stock is currently owned by corporate insiders.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates in two segments, Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 218,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,481.5 megawatts of generation capacity and 8,892 miles of electric transmission and distribution lines.
- Get a free copy of the StockNews.com research report on Black Hills (BKH)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
- Why Apple Could Be At All-Time Highs By Year End
Receive News & Ratings for Black Hills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills and related companies with MarketBeat.com's FREE daily email newsletter.