WCM Investment Management LLC Makes New $1.44 Million Investment in Black Hills Co. (NYSE:BKH)

WCM Investment Management LLC bought a new stake in Black Hills Co. (NYSE:BKH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 23,539 shares of the utilities provider’s stock, valued at approximately $1,437,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BKH. Empowered Funds LLC bought a new position in shares of Black Hills during the 1st quarter worth approximately $1,028,000. SG Americas Securities LLC boosted its position in Black Hills by 357.0% in the first quarter. SG Americas Securities LLC now owns 10,754 shares of the utilities provider’s stock worth $587,000 after purchasing an additional 8,401 shares during the last quarter. Swiss National Bank grew its stake in Black Hills by 1.4% in the 1st quarter. Swiss National Bank now owns 134,179 shares of the utilities provider’s stock valued at $7,326,000 after purchasing an additional 1,900 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Black Hills during the 1st quarter valued at $96,000. Finally, Dearborn Partners LLC bought a new stake in shares of Black Hills during the 1st quarter worth $202,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on BKH. Wells Fargo & Company increased their price target on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank increased their target price on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, Black Hills currently has a consensus rating of “Hold” and a consensus price target of $58.00.

Black Hills Trading Down 1.0 %

Shares of Black Hills stock opened at $61.78 on Wednesday. The stock has a market capitalization of $4.31 billion, a P/E ratio of 16.61, a P/E/G ratio of 4.39 and a beta of 0.69. Black Hills Co. has a 52-week low of $48.27 and a 52-week high of $63.01. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. The stock’s 50-day simple moving average is $60.31 and its 200 day simple moving average is $57.62.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Monday, November 18th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, November 18th. Black Hills’s dividend payout ratio (DPR) is currently 69.89%.

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.