Blair William & Co. IL trimmed its position in shares of Black Hills Corporation (NYSE:BKH) by 14.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,159 shares of the utilities provider’s stock after selling 700 shares during the period. Blair William & Co. IL’s holdings in Black Hills Corporation were worth $281,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in BKH. Capstone Asset Management Co. grew its stake in Black Hills Corporation by 28.8% during the first quarter. Capstone Asset Management Co. now owns 4,869 shares of the utilities provider’s stock worth $324,000 after buying an additional 1,090 shares in the last quarter. Retirement Systems of Alabama grew its stake in Black Hills Corporation by 0.4% during the first quarter. Retirement Systems of Alabama now owns 68,918 shares of the utilities provider’s stock worth $4,581,000 after buying an additional 286 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in Black Hills Corporation by 2.1% during the first quarter. Glen Harbor Capital Management LLC now owns 2,688 shares of the utilities provider’s stock worth $179,000 after buying an additional 56 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Black Hills Corporation during the first quarter worth about $303,000. Finally, Oregon Public Employees Retirement Fund grew its stake in Black Hills Corporation by 3.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 18,738 shares of the utilities provider’s stock worth $1,246,000 after buying an additional 659 shares in the last quarter. Hedge funds and other institutional investors own 94.01% of the company’s stock.
A number of research analysts have recently commented on BKH shares. Williams Capital increased their target price on shares of Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 19th. BidaskClub cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Zacks Investment Research raised shares of Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $70.00 price objective on shares of Black Hills Corporation in a report on Friday, June 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $72.50.
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Black Hills Corporation (BKH) traded down 1.07% during mid-day trading on Friday, reaching $69.07. 152,686 shares of the company traded hands. Black Hills Corporation has a 12-month low of $54.76 and a 12-month high of $72.02. The company’s 50-day moving average is $69.97 and its 200-day moving average is $68.48. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 28.84 and a beta of 0.80.
Black Hills Corporation (NYSE:BKH) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $356.85 million. During the same period in the prior year, the company posted $0.39 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Equities analysts predict that Black Hills Corporation will post $3.58 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 18th were paid a $0.445 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.55%. Black Hills Corporation’s dividend payout ratio is currently 74.79%.
Black Hills Corporation Company Profile
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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