Verition Fund Management LLC Has $1.72 Million Stock Holdings in Black Hills Co. (NYSE:BKH)

Verition Fund Management LLC grew its position in Black Hills Co. (NYSE:BKH) by 264.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,139 shares of the utilities provider’s stock after purchasing an additional 20,425 shares during the quarter. Verition Fund Management LLC’s holdings in Black Hills were worth $1,720,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Black Hills by 84.9% in the third quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 265 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Black Hills in the 3rd quarter worth approximately $45,000. Quarry LP raised its holdings in shares of Black Hills by 158.0% during the 2nd quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after buying an additional 515 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 807 shares during the last quarter. Finally, Crewe Advisors LLC grew its holdings in shares of Black Hills by 25.2% in the second quarter. Crewe Advisors LLC now owns 2,055 shares of the utilities provider’s stock worth $112,000 after purchasing an additional 414 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Black Hills Trading Down 1.4 %

NYSE BKH opened at $61.92 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 1.20. Black Hills Co. has a twelve month low of $49.33 and a twelve month high of $65.59. The firm has a market capitalization of $4.43 billion, a PE ratio of 16.65, a P/E/G ratio of 4.55 and a beta of 0.71. The stock’s 50 day moving average is $61.29 and its 200 day moving average is $58.46.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Monday, November 18th were given a dividend of $0.65 per share. The ex-dividend date was Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.20%. Black Hills’s dividend payout ratio is presently 69.89%.

Wall Street Analyst Weigh In

Separately, Scotiabank lifted their price objective on Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.