Walleye Capital LLC Buys Shares of 33,829 Black Hills Co. (NYSE:BKH)

Walleye Capital LLC bought a new stake in Black Hills Co. (NYSE:BKH) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,829 shares of the utilities provider’s stock, valued at approximately $2,068,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leeward Investments LLC MA boosted its position in Black Hills by 5.6% during the second quarter. Leeward Investments LLC MA now owns 170,148 shares of the utilities provider’s stock worth $9,253,000 after acquiring an additional 9,048 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings 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 during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Black Hills by 19.3% in the third quarter. Thrivent Financial for Lutherans now owns 210,768 shares of the utilities provider’s stock valued at $12,882,000 after purchasing an additional 34,129 shares during the period. CWA Asset Management Group LLC acquired a new position in Black Hills in the third quarter valued at $1,807,000. Finally, Burney Co. lifted its position in Black Hills by 6.6% during the second quarter. Burney Co. now owns 79,560 shares of the utilities provider’s stock worth $4,326,000 after buying an additional 4,915 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Shares of NYSE:BKH opened at $63.00 on Wednesday. The business has a 50-day moving average of $61.15 and a two-hundred day moving average of $58.32. The firm has a market capitalization of $4.51 billion, a PE ratio of 16.94, a P/E/G ratio of 4.54 and a beta of 0.71. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.12 and a quick ratio of 0.83. Black Hills Co. has a 12 month low of $49.33 and a 12 month high of $65.59.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were issued a $0.65 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.13%. Black Hills’s payout ratio is 69.89%.

Analysts Set New Price Targets

Separately, Scotiabank lifted their price target on 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $60.25.

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.