Vanguard Group Inc
disclosed that they own a 10.1% stake in Black Hills Corporation (NYSE:BKH) in a Form 13G/A disclosure that was filed with the Securities and Exchange Commission on Friday, September 8th. The investor owns 5,395,956 shares of the stock worth $370,162,582. The filing is available through EDGAR at this hyperlink.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capstone Asset Management Co. raised its position in Black Hills Corporation by 28.8% in the 1st quarter. Capstone Asset Management Co. now owns 4,869 shares of the utilities provider’s stock valued at $324,000 after purchasing an additional 1,090 shares in the last quarter. Retirement Systems of Alabama raised its position in Black Hills Corporation by 0.4% in the 1st quarter. Retirement Systems of Alabama now owns 68,918 shares of the utilities provider’s stock valued at $4,581,000 after purchasing an additional 286 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in Black Hills Corporation by 2.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 2,688 shares of the utilities provider’s stock valued at $179,000 after purchasing an additional 56 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Black Hills Corporation in the 1st quarter valued at about $303,000. Finally, Oregon Public Employees Retirement Fund raised its position in Black Hills Corporation by 3.6% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,738 shares of the utilities provider’s stock valued at $1,246,000 after purchasing an additional 659 shares in the last quarter. 93.83% of the stock is currently owned by hedge funds and other institutional investors.
Black Hills Corporation (BKH) opened at 68.60 on Friday. Black Hills Corporation has a 1-year low of $54.76 and a 1-year high of $72.02. The company’s 50-day moving average price is $69.92 and its 200-day moving average price is $68.61. The stock has a market cap of $3.67 billion, a P/E ratio of 28.64 and a beta of 0.80.
Black Hills Corporation (NYSE:BKH) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The company had revenue of $348.00 million during the quarter, compared to the consensus estimate of $356.85 million. During the same quarter last year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts predict that Black Hills Corporation will post $3.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 2.59%. The ex-dividend date was Wednesday, August 16th. Black Hills Corporation’s dividend payout ratio (DPR) is presently 74.79%.
A number of equities research analysts have issued reports on the company. Zacks Investment Research raised Black Hills Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 price target on shares of Black Hills Corporation in a research report on Wednesday, August 9th. BidaskClub lowered Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Finally, Williams Capital raised their target price on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $72.50.
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About Black Hills Corporation
Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana.
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