Karp Capital Management Corp Buys Shares of 18,308 Black Hills Corporation (BKH)

Karp Capital Management Corp purchased a new position in Black Hills Corporation (NYSE:BKH) during the first quarter, according to its most recent filing with the SEC. The fund purchased 18,308 shares of the utilities provider’s stock, valued at approximately $1,217,000.

Several other large investors have also recently made changes to their positions in BKH. Flinton Capital Management LLC increased its stake in shares of Black Hills Corporation by 2.1% in the first quarter. Flinton Capital Management LLC now owns 1,536 shares of the utilities provider’s stock worth $102,000 after buying an additional 32 shares during the last quarter. Bollard Group LLC boosted its position in Black Hills Corporation by 0.7% in the first quarter. Bollard Group LLC now owns 4,928 shares of the utilities provider’s stock valued at $328,000 after buying an additional 33 shares during the period. Meadow Creek Investment Management LLC boosted its position in Black Hills Corporation by 2.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock valued at $140,000 after buying an additional 44 shares during the period. Glen Harbor Capital Management LLC boosted its position in Black Hills Corporation by 2.1% in the first quarter. Glen Harbor Capital Management LLC now owns 2,688 shares of the utilities provider’s stock valued at $179,000 after buying an additional 56 shares during the period. Finally, Elkfork Partners LLC boosted its position in Black Hills Corporation by 2.1% in the first quarter. Elkfork Partners LLC now owns 3,264 shares of the utilities provider’s stock valued at $217,000 after buying an additional 68 shares during the period. 95.66% of the stock is currently owned by hedge funds and other institutional investors.

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

Shares of Black Hills Corporation (BKH) opened at 71.88 on Friday. Black Hills Corporation has a 1-year low of $54.76 and a 1-year high of $71.98. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 35.50 and a beta of 0.78. The stock’s 50 day moving average price is $69.08 and its 200-day moving average price is $64.86.

Black Hills Corporation (NYSE:BKH) last issued its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.01. The company had revenue of $554 million for the quarter, compared to the consensus estimate of $581 million. Black Hills Corporation had a return on equity of 10.55% and a net margin of 6.53%. Black Hills Corporation’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, equities research analysts forecast that Black Hills Corporation will post $3.60 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th were given a $0.445 dividend. The ex-dividend date was Tuesday, May 16th. This represents a $1.78 annualized dividend and a dividend yield of 2.48%. Black Hills Corporation’s dividend payout ratio (DPR) is presently 89.45%.

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Several research analysts recently weighed in on BKH shares. Royal Bank Of Canada restated a “buy” rating and issued a $70.00 price objective on shares of Black Hills Corporation in a research report on Friday, March 17th. Zacks Investment Research cut shares of Black Hills Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, March 21st. BMO Capital Markets increased their price target on shares of Black Hills Corporation from $67.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, May 5th. Finally, Singular Research increased their price target on shares of Black Hills Corporation from $68.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $70.50.

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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