Raymond James Trust N.A. Makes New Investment in Black Hills Co. (NYSE:BKH)

Raymond James Trust N.A. bought a new position in shares of Black Hills Co. (NYSE:BKH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,578 shares of the utilities provider’s stock, valued at approximately $219,000.

A number of other large investors have also recently made changes to their positions in the stock. Pathway Financial Advisers LLC bought a new position in Black Hills in the first quarter worth approximately $31,000. Blue Trust Inc. lifted its holdings in shares of Black Hills by 84.9% in the 3rd quarter. Blue Trust Inc. now owns 577 shares of the utilities provider’s stock worth $35,000 after buying an additional 265 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Black Hills during the 3rd quarter worth $45,000. Quarry LP increased its stake in shares of Black Hills by 158.0% during the second quarter. Quarry LP now owns 841 shares of the utilities provider’s stock valued at $46,000 after buying an additional 515 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Black Hills by 972.3% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Shares of Black Hills stock opened at $63.94 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of 17.19, a P/E/G ratio of 4.67 and a beta of 0.69. The company has a 50-day simple moving average of $61.00 and a two-hundred day simple moving average of $58.16. Black Hills Co. has a one year low of $49.33 and a one year high of $65.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.83 and a current ratio of 1.12.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 18th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 dividend on an annualized basis and a yield of 4.07%. Black Hills’s payout ratio is 69.89%.

Analyst Ratings Changes

A number of research analysts have commented on BKH shares. Scotiabank raised 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. Wells Fargo & Company lifted their price objective on shares of Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and a consensus target price of $60.25.

About Black Hills

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.