Highline Wealth Partners LLC Buys New Position in BHP Group Limited (NYSE:BHP)

Highline Wealth Partners LLC purchased a new position in shares of BHP Group Limited (NYSE:BHP) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 10,109 shares of the mining company’s stock, valued at approximately $628,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in BHP Group during the first quarter worth approximately $1,953,000. Quantbot Technologies LP lifted its stake in shares of BHP Group by 104.7% during the 1st quarter. Quantbot Technologies LP now owns 32,822 shares of the mining company’s stock worth $1,894,000 after purchasing an additional 16,788 shares during the period. Ausbil Investment Management Ltd purchased a new position in shares of BHP Group during the 3rd quarter worth $2,360,000. GSA Capital Partners LLP acquired a new stake in shares of BHP Group during the first quarter worth $759,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of BHP Group in the first quarter valued at $3,765,000. 3.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Sanford C. Bernstein upgraded BHP Group from a “market perform” rating to an “outperform” rating in a research report on Monday, September 16th. StockNews.com raised shares of BHP Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Argus raised shares of BHP Group to a “strong-buy” rating in a research report on Thursday, September 19th. Finally, Jefferies Financial Group downgraded shares of 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. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

BHP Group Price Performance

Shares of BHP Group stock opened at $56.14 on Wednesday. The business’s fifty day moving average price is $56.32 and its 200 day moving average price is $56.78. BHP Group Limited has a twelve month low of $50.90 and a twelve month high of $69.11. The company has a current ratio of 1.70, a quick ratio of 1.29 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $142.20 billion, a P/E ratio of 12.10, a PEG ratio of 3.95 and a beta of 0.96.

BHP Group Increases Dividend

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

BHP Group Profile

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.