Black Hills Corporation (BKH) Stake Increased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in Black Hills Corporation (NYSE:BKH) by 2,256.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,228 shares of the utilities provider’s stock after acquiring an additional 11,709 shares during the period. Russell Investments Group Ltd.’s holdings in Black Hills Corporation were worth $825,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in shares of Black Hills Corporation by 6,088.6% in the 1st quarter. BlackRock Inc. now owns 8,243,687 shares of the utilities provider’s stock worth $547,958,000 after acquiring an additional 8,110,479 shares during the period. Vanguard Group Inc. lifted its stake in shares of Black Hills Corporation by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 5,104,297 shares of the utilities provider’s stock worth $339,282,000 after acquiring an additional 624,839 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Black Hills Corporation by 76.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,322,688 shares of the utilities provider’s stock worth $154,389,000 after acquiring an additional 1,008,172 shares during the period. Wellington Management Group LLP lifted its stake in shares of Black Hills Corporation by 24.1% in the 1st quarter. Wellington Management Group LLP now owns 1,938,261 shares of the utilities provider’s stock worth $128,836,000 after acquiring an additional 376,732 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Black Hills Corporation by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 970,853 shares of the utilities provider’s stock worth $64,531,000 after acquiring an additional 4,188 shares during the period. Institutional investors own 94.01% of the company’s stock.

Several research firms have recently commented on BKH. Williams Capital raised their target price on shares of Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. Royal Bank Of Canada restated a “buy” rating and issued a $73.00 target price on shares of Black Hills Corporation in a research note on Wednesday, August 9th. Zacks Investment Research upgraded shares of Black Hills Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, BidaskClub cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $72.50.

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Shares of Black Hills Corporation (NYSE:BKH) traded down 0.27% during trading on Friday, hitting $69.63. 485,691 shares of the stock were exchanged. Black Hills Corporation has a 12-month low of $54.76 and a 12-month high of $72.02. The stock has a 50-day moving average of $69.96 and a 200 day moving average of $68.51. The stock has a market cap of $3.72 billion, a P/E ratio of 29.07 and a beta of 0.80.

Black Hills Corporation (NYSE:BKH) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $348.00 million during the quarter, compared to analyst estimates of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. Equities analysts predict that Black Hills Corporation will post $3.58 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Wednesday, August 16th. Black Hills Corporation’s payout ratio is 74.79%.

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

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