Point72 DIFC Ltd Invests $82,000 in Black Hills Co. (NYSE:BKH)

Point72 DIFC Ltd acquired a new stake in Black Hills Co. (NYSE:BKH) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,337 shares of the utilities provider’s stock, valued at approximately $82,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BKH. Blue Trust Inc. boosted its stake 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 valued at $35,000 after purchasing an additional 265 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Black Hills in the 3rd quarter valued at approximately $45,000. Quarry LP boosted its position in Black Hills by 158.0% in 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Black Hills by 972.3% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock worth $48,000 after buying an additional 807 shares during the last quarter. Finally, Crewe Advisors LLC increased its holdings in shares of Black Hills by 25.2% during the second quarter. Crewe Advisors LLC now owns 2,055 shares of the utilities provider’s stock worth $112,000 after buying an additional 414 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 1.4 %

Shares of NYSE BKH opened at $61.92 on Monday. The stock has a market cap of $4.43 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 4.55 and a beta of 0.71. Black Hills Co. has a 52-week low of $49.33 and a 52-week high of $65.59. The firm has a 50 day moving average price of $61.29 and a two-hundred day moving average price of $58.49. 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 business also recently declared a quarterly dividend, which was paid on Sunday, December 1st. Stockholders of record on Monday, November 18th were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.60 annualized dividend and a dividend yield of 4.20%. Black Hills’s payout ratio is 69.89%.

Analyst Ratings Changes

Separately, Scotiabank raised their price objective 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 currently has an average rating of “Hold” and an average price target of $60.25.

Black Hills 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.