Sagespring Wealth Partners LLC Makes New Investment in BHP Group Limited (NYSE:BHP)

Sagespring Wealth Partners LLC bought a new position in shares of BHP Group Limited (NYSE:BHP) during the fourth quarter, HoldingsChannel reports. The fund bought 6,617 shares of the mining company’s stock, valued at approximately $323,000.

Several other institutional investors also recently modified their holdings of BHP. Barclays PLC raised its position in BHP Group by 93.7% in the third quarter. Barclays PLC now owns 226,083 shares of the mining company’s stock valued at $14,042,000 after purchasing an additional 109,337 shares during the last quarter. Passumpsic Savings Bank lifted its holdings in BHP Group by 8.3% during the 3rd quarter. Passumpsic Savings Bank now owns 4,548 shares of the mining company’s stock worth $282,000 after buying an additional 349 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of BHP Group in the 3rd quarter valued at about $114,000. Optimist Retirement Group LLC increased its stake in shares of BHP Group by 16.3% in the third quarter. Optimist Retirement Group LLC now owns 38,823 shares of the mining company’s stock valued at $2,411,000 after buying an additional 5,432 shares during the period. Finally, Tidal Investments LLC raised its position in shares of BHP Group by 21.8% during the third quarter. Tidal Investments LLC now owns 141,455 shares of the mining company’s stock worth $8,786,000 after acquiring an additional 25,342 shares during the last quarter. 3.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on BHP shares. Jefferies Financial Group decreased their target price on shares of BHP Group from $57.00 to $53.00 and set a “hold” rating for the company in a research report on Monday, January 6th. StockNews.com cut shares of BHP Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 19th. Finally, Clarkson Capital upgraded shares of BHP Group to a “strong-buy” rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $53.00.

BHP Group Price Performance

BHP Group stock opened at $46.30 on Wednesday. The stock’s 50 day moving average price is $48.65 and its two-hundred day moving average price is $51.44. The stock has a market capitalization of $117.39 billion, a price-to-earnings ratio of 10.52 and a beta of 0.85. 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 52-week low of $39.73 and a 52-week high of $63.21.

BHP Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 7th were paid a $1.00 dividend. This represents a yield of 4.8%. The ex-dividend date was Friday, March 7th. BHP Group’s dividend payout ratio (DPR) is currently 44.77%.

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.