Legal & General Group Plc raised its stake in Black Hills Corp (NYSE:BKH) by 7.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 219,001 shares of the utilities provider’s stock after purchasing an additional 14,880 shares during the period. Legal & General Group Plc owned 0.41% of Black Hills worth $15,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Black Hills by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock worth $132,000 after acquiring an additional 146 shares during the last quarter. Advisor Group Inc. grew its stake in shares of Black Hills by 7.7% during the second quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock worth $142,000 after acquiring an additional 151 shares during the last quarter. Flinton Capital Management LLC grew its stake in shares of Black Hills by 68.8% during the second quarter. Flinton Capital Management LLC now owns 2,592 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 1,056 shares during the last quarter. Denver Investment Advisors LLC purchased a new stake in shares of Black Hills during the second quarter worth about $202,000. Finally, Suntrust Banks Inc. purchased a new stake in shares of Black Hills during the second quarter worth about $202,000. Institutional investors own 95.41% of the company’s stock.
A number of equities research analysts have recently weighed in on BKH shares. Zacks Investment Research upgraded Black Hills from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Williams Capital lowered Black Hills from a “buy” rating to a “hold” rating and dropped their price target for the stock from $75.00 to $70.00 in a research note on Friday, October 6th. Bank of America began coverage on Black Hills in a research note on Tuesday, October 24th. They set an “underperform” rating and a $66.00 price target on the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $66.00 target price (down previously from $77.00) on shares of Black Hills in a report on Monday, November 6th. They noted that the move was a valuation call. Finally, Wells Fargo & Company began coverage on Black Hills in a report on Friday, October 27th. They set a “market perform” rating and a $58.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.13.
Black Hills Corp (BKH) traded up $0.32 during trading on Tuesday, hitting $59.97. The company had a trading volume of 521,100 shares, compared to its average volume of 358,625. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.47. Black Hills Corp has a 12-month low of $57.01 and a 12-month high of $72.02. The firm has a market capitalization of $3,190.35, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 3.20 and a beta of 0.73.
Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The company had revenue of $342.10 million during the quarter, compared to analyst estimates of $369.84 million. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. analysts expect that Black Hills Corp will post 3.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This is an increase from Black Hills’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 3.17%. Black Hills’s payout ratio is presently 72.52%.
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Black Hills 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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