Black Hills Corp (NYSE:BKH) Stock Holdings Lifted by Prudential Financial Inc.

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Prudential Financial Inc. grew its stake in shares of Black Hills Corp (NYSE:BKH) by 162.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 91,891 shares of the utilities provider’s stock after acquiring an additional 56,861 shares during the period. Prudential Financial Inc.’s holdings in Black Hills were worth $7,183,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of Black Hills by 2.0% in the 1st quarter. Northern Trust Corp now owns 1,192,388 shares of the utilities provider’s stock worth $88,320,000 after acquiring an additional 23,912 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Black Hills by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,027,803 shares of the utilities provider’s stock valued at $64,524,000 after purchasing an additional 27,598 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Black Hills by 23.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 607,386 shares of the utilities provider’s stock valued at $47,255,000 after purchasing an additional 117,025 shares during the period. Geode Capital Management LLC boosted its position in shares of Black Hills by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 583,033 shares of the utilities provider’s stock valued at $36,602,000 after purchasing an additional 62,327 shares during the period. Finally, Rothschild & Co. Asset Management US Inc. increased its stake in Black Hills by 3.7% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 578,581 shares of the utilities provider’s stock worth $45,228,000 after purchasing an additional 20,660 shares in the last quarter. Institutional investors own 88.92% of the company’s stock.

In other news, Chairman David R. Emery sold 7,500 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $81.58, for a total value of $611,850.00. Following the transaction, the chairman now owns 175,306 shares in the company, valued at approximately $14,301,463.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Kinzley sold 5,416 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $77.89, for a total transaction of $421,852.24. Following the completion of the sale, the chief financial officer now directly owns 38,299 shares of the company’s stock, valued at $2,983,109.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,916 shares of company stock worth $2,198,227. Company insiders own 1.00% of the company’s stock.

BKH has been the topic of several analyst reports. Credit Suisse Group dropped their target price on shares of Black Hills from $79.00 to $78.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Zacks Investment Research downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Black Hills presently has a consensus rating of “Hold” and a consensus price target of $72.67.

Shares of Black Hills stock traded up $0.82 during midday trading on Wednesday, hitting $75.49. The company’s stock had a trading volume of 6,331 shares, compared to its average volume of 347,428. The firm has a market capitalization of $4.59 billion, a P/E ratio of 21.22, a PEG ratio of 5.29 and a beta of 0.30. The stock has a 50-day simple moving average of $77.40 and a 200-day simple moving average of $75.83. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 1.26. Black Hills Corp has a 1-year low of $56.42 and a 1-year high of $82.01.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.21). The business had revenue of $333.90 million for the quarter, compared to analysts’ expectations of $399.87 million. Black Hills had a net margin of 12.65% and a return on equity of 8.99%. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. As a group, sell-side analysts predict that Black Hills Corp will post 3.43 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Monday, August 19th were given a dividend of $0.505 per share. The ex-dividend date was Friday, August 16th. This represents a $2.02 dividend on an annualized basis and a yield of 2.68%. Black Hills’s payout ratio is presently 57.06%.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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