TD Asset Management Inc. lifted its holdings in Black Hills Corp (NYSE:BKH) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,355 shares of the utilities provider’s stock after purchasing an additional 1,000 shares during the period. TD Asset Management Inc.’s holdings in Black Hills were worth $1,402,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Black Hills by 977.8% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 99,156 shares of the utilities provider’s stock worth $6,251,000 after purchasing an additional 89,956 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Black Hills by 113.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 25,791 shares of the utilities provider’s stock worth $1,740,000 after purchasing an additional 13,699 shares during the period. Northern Trust Corp lifted its stake in shares of Black Hills by 3.5% in the 2nd quarter. Northern Trust Corp now owns 844,566 shares of the utilities provider’s stock worth $56,983,000 after purchasing an additional 28,213 shares during the period. Neuberger Berman Group LLC lifted its stake in shares of Black Hills by 0.4% in the 2nd quarter. Neuberger Berman Group LLC now owns 383,512 shares of the utilities provider’s stock worth $25,876,000 after purchasing an additional 1,525 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Black Hills in the 2nd quarter worth approximately $271,000. Hedge funds and other institutional investors own 95.41% of the company’s stock.
Shares of Black Hills Corp (NYSE BKH) traded up $0.32 on Tuesday, reaching $59.97. 521,100 shares of the company’s stock were exchanged, compared to its average volume of 358,625. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.47 and a current ratio of 0.69. Black Hills Corp has a twelve month low of $57.01 and a twelve month high of $72.02. The stock has a market cap of $3,190.35, a price-to-earnings ratio of 17.60, a P/E/G ratio of 3.20 and a beta of 0.73.
Black Hills (NYSE:BKH) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The company had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $369.84 million. During the same period last year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts expect that Black Hills Corp will post 3.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a $0.475 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This is a positive change from Black Hills’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.17%. Black Hills’s dividend payout ratio (DPR) is 72.52%.
Several equities research analysts recently issued reports on BKH shares. Royal Bank of Canada reduced their target price on shares of Black Hills from $72.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Williams Capital lowered shares of Black Hills from a “buy” rating to a “hold” rating and reduced their target price for the stock from $75.00 to $70.00 in a report on Friday, October 6th. Zacks Investment Research lowered shares of Black Hills from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. J P Morgan Chase & Co increased their target price on shares of Black Hills from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 target price for the company in a report on Monday, November 13th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Black Hills has a consensus rating of “Buy” and a consensus price target of $68.13.
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About Black Hills
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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