Pinnacle West Asset Management Inc. Acquires 1,350 Shares of BHP Group Limited (NYSE:BHP)

Pinnacle West Asset Management Inc. boosted its holdings in shares of BHP Group Limited (NYSE:BHP) by 16.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,500 shares of the mining company’s stock after purchasing an additional 1,350 shares during the period. Pinnacle West Asset Management Inc.’s holdings in BHP Group were worth $464,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BHP. Allspring Global Investments Holdings LLC raised its position in BHP Group by 11.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,839 shares of the mining company’s stock valued at $673,000 after acquiring an additional 1,087 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in BHP Group by 76.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,867 shares of the mining company’s stock valued at $2,104,000 after purchasing an additional 14,700 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in BHP Group by 53.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the mining company’s stock valued at $127,000 after purchasing an additional 700 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in BHP Group during the third quarter valued at approximately $50,000. Finally, Nicholas Hoffman & Company LLC. grew its holdings in BHP Group by 2.5% during the third quarter. Nicholas Hoffman & Company LLC. now owns 11,396 shares of the mining company’s stock valued at $708,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 3.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BHP shares. Jefferies Financial Group lowered their price target on BHP Group from $57.00 to $53.00 and set a “hold” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded BHP Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.00.

BHP Group Trading Down 0.8 %

Shares of BHP Group stock opened at $50.67 on Wednesday. The company’s fifty day simple moving average is $49.80 and its 200-day simple moving average is $53.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.25 and a current ratio of 1.70. BHP Group Limited has a 1 year low of $48.06 and a 1 year high of $63.21.

BHP Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, March 27th. Stockholders of record on Friday, March 7th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 4.8%.

About BHP Group

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.