Rothschild Asset Management Inc. grew its holdings in Black Hills Corporation (NYSE:BKH) by 18.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 517,539 shares of the utilities provider’s stock after acquiring an additional 81,825 shares during the quarter. Rothschild Asset Management Inc. owned 0.97% of Black Hills Corporation worth $35,643,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in BKH. Janus Henderson Group PLC bought a new stake in shares of Black Hills Corporation in the second quarter valued at about $61,993,000. Renaissance Technologies LLC boosted its position in shares of Black Hills Corporation by 35.9% in the second quarter. Renaissance Technologies LLC now owns 720,800 shares of the utilities provider’s stock valued at $48,632,000 after acquiring an additional 190,500 shares during the period. Goldman Sachs Group Inc. raised its stake in Black Hills Corporation by 7.4% in the second quarter. Goldman Sachs Group Inc. now owns 2,494,071 shares of the utilities provider’s stock valued at $168,275,000 after purchasing an additional 171,383 shares in the last quarter. Macquarie Group Ltd. raised its stake in Black Hills Corporation by 19.1% in the second quarter. Macquarie Group Ltd. now owns 974,182 shares of the utilities provider’s stock valued at $65,728,000 after purchasing an additional 155,969 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its stake in Black Hills Corporation by 165.4% in the third quarter. Hennessy Advisors Inc. now owns 215,947 shares of the utilities provider’s stock valued at $14,872,000 after purchasing an additional 134,588 shares in the last quarter. 95.22% of the stock is owned by institutional investors.
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A number of research analysts recently commented on the company. Bank of America Corporation raised Black Hills Corporation from an “underperform” rating to a “neutral” rating and set a $61.00 price target for the company in a research note on Monday, November 13th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $66.00 price target (down previously from $77.00) on shares of Black Hills Corporation in a research note on Monday, November 6th. They noted that the move was a valuation call. Royal Bank Of Canada dropped their price target on Black Hills Corporation from $72.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, November 6th. Wells Fargo & Company assumed coverage on Black Hills Corporation in a research note on Friday, October 27th. They issued a “market perform” rating and a $58.00 price target for the company. Finally, J P Morgan Chase & Co boosted their price target on Black Hills Corporation from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $68.13.
Shares of Black Hills Corporation (NYSE BKH) traded down $0.30 during midday trading on Tuesday, reaching $58.63. The company’s stock had a trading volume of 467,000 shares, compared to its average volume of 352,375. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.47 and a current ratio of 0.69. The firm has a market capitalization of $3,140.00, a P/E ratio of 17.38, a price-to-earnings-growth ratio of 3.16 and a beta of 0.78. Black Hills Corporation has a 12-month low of $57.26 and a 12-month high of $72.02.
Black Hills Corporation (NYSE:BKH) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.05). The business had revenue of $342.10 million for the quarter, compared to analyst estimates of $369.84 million. Black Hills Corporation had a return on equity of 10.47% and a net margin of 8.47%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 EPS. equities research analysts forecast that Black Hills Corporation will post 3.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be paid a dividend of $0.475 per share. This is an increase from Black Hills Corporation’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, November 16th. This represents a $1.90 annualized dividend and a yield of 3.24%. Black Hills Corporation’s payout ratio is presently 72.24%.
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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