BHP Group Limited (NYSE:BHP) Shares Purchased by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. boosted its holdings in shares of BHP Group Limited (NYSE:BHP) by 2.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,150 shares of the mining company’s stock after acquiring an additional 225 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in BHP Group were worth $506,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new stake in BHP Group in the 1st quarter valued at about $47,000. Sunbelt Securities Inc. increased its position in shares of BHP Group by 12.1% during the first quarter. Sunbelt Securities Inc. now owns 2,135 shares of the mining company’s stock valued at $123,000 after acquiring an additional 231 shares during the last quarter. GoalVest Advisory LLC acquired a new position in shares of BHP Group in the 1st quarter worth approximately $182,000. Janiczek Wealth Management LLC boosted its position in shares of BHP Group by 35.0% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,606 shares of the mining company’s stock worth $93,000 after purchasing an additional 416 shares during the period. Finally, Addenda Capital Inc. increased its holdings in BHP Group by 27.1% in the 1st quarter. Addenda Capital Inc. now owns 112,562 shares of the mining company’s stock valued at $6,494,000 after purchasing an additional 23,968 shares during the last quarter. Hedge funds and other institutional investors own 3.79% of the company’s stock.

BHP Group Stock Down 0.3 %

NYSE BHP traded down $0.16 during trading hours on Thursday, hitting $55.57. 726,174 shares of the company were exchanged, compared to its average volume of 2,473,488. The company has a quick ratio of 1.29, a current ratio of 1.70 and a debt-to-equity ratio of 0.38. The firm has a market cap of $140.75 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 3.95 and a beta of 0.96. The company has a 50 day moving average of $56.06 and a two-hundred day moving average of $56.88. BHP Group Limited has a 52-week low of $50.90 and a 52-week high of $69.11.

BHP Group Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Thursday, October 3rd. Investors of record on Friday, September 13th were paid a dividend of $1.465 per share. This represents a dividend yield of 5.2%. This is a positive change from BHP Group’s previous Semi-Annual dividend of $1.44. The ex-dividend date was Friday, September 13th. BHP Group’s dividend payout ratio is presently 62.08%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Argus upgraded BHP Group to a “strong-buy” rating in a research note on Thursday, September 19th. Jefferies Financial Group cut BHP Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $72.00 to $68.00 in a report on Friday, October 4th. Sanford C. Bernstein upgraded shares of BHP Group from a “market perform” rating to an “outperform” rating in a research note on Monday, September 16th. Finally, StockNews.com raised shares of BHP Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, BHP Group has a consensus rating of “Moderate Buy” and an average price target of $68.00.

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.