Teachers Advisors LLC raised its position in shares of Black Hills Corporation (NYSE:BKH) by 10.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,317 shares of the utilities provider’s stock after purchasing an additional 8,970 shares during the period. Teachers Advisors LLC owned approximately 0.18% of Black Hills Corporation worth $6,499,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Stephens Inc. AR raised its position in Black Hills Corporation by 28.1% during the second quarter. Stephens Inc. AR now owns 6,888 shares of the utilities provider’s stock valued at $465,000 after purchasing an additional 1,512 shares in the last quarter. Riverhead Capital Management LLC raised its position in Black Hills Corporation by 72.0% during the second quarter. Riverhead Capital Management LLC now owns 4,129 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 1,729 shares in the last quarter. Alliancebernstein L.P. raised its position in Black Hills Corporation by 7.8% during the second quarter. Alliancebernstein L.P. now owns 80,750 shares of the utilities provider’s stock valued at $5,448,000 after purchasing an additional 5,850 shares in the last quarter. AXA acquired a new position in Black Hills Corporation during the second quarter valued at approximately $5,087,000. Finally, Kennedy Capital Management Inc. raised its position in Black Hills Corporation by 0.8% during the second quarter. Kennedy Capital Management Inc. now owns 280,366 shares of the utilities provider’s stock valued at $18,916,000 after purchasing an additional 2,168 shares in the last quarter. Institutional investors and hedge funds own 93.83% of the company’s stock.
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BKH has been the topic of a number of research reports. Williams Capital cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $75.00 to $70.00 in a research note on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $70.00 target price on shares of Black Hills Corporation in a research note on Monday, July 31st. Zacks Investment Research cut shares of Black Hills Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, Credit Suisse Group boosted their target price on shares of Black Hills Corporation from $75.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Black Hills Corporation has a consensus rating of “Buy” and an average price target of $73.80.
Shares of Black Hills Corporation (NYSE BKH) opened at 67.08 on Friday. Black Hills Corporation has a 52 week low of $54.76 and a 52 week high of $72.02. The company has a market cap of $3.59 billion, a PE ratio of 28.01 and a beta of 0.79. The company has a 50 day moving average of $69.51 and a 200 day moving average of $68.91.
Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The firm had revenue of $348.00 million during the quarter, compared to the consensus estimate of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. Black Hills Corporation’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. On average, analysts expect that Black Hills Corporation will post $3.57 EPS for the current year.
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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