Black Hills Corp (BKH) Holdings Raised by Rhumbline Advisers

Black Hills Corp (BKH) Holdings Raised by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of Black Hills Corp (NYSE:BKH) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 185,437 shares of the utilities provider’s stock after acquiring an additional 2,780 shares during the period. Rhumbline Advisers’ holdings in Black Hills were worth $13,735,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System raised its position in shares of Black Hills by 1.4% during the first quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the utilities provider’s stock valued at $1,074,000 after buying an additional 200 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Black Hills by 8.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,496 shares of the utilities provider’s stock valued at $219,000 after buying an additional 282 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Black Hills by 0.4% during the first quarter. Retirement Systems of Alabama now owns 70,299 shares of the utilities provider’s stock valued at $5,207,000 after buying an additional 291 shares during the last quarter. Ffcm LLC raised its position in shares of Black Hills by 303.9% during the fourth quarter. Ffcm LLC now owns 622 shares of the utilities provider’s stock valued at $39,000 after buying an additional 468 shares during the last quarter. Finally, Gotham Asset Management LLC raised its position in shares of Black Hills by 6.9% during the fourth quarter. Gotham Asset Management LLC now owns 8,287 shares of the utilities provider’s stock valued at $520,000 after buying an additional 533 shares during the last quarter. Institutional investors own 86.41% of the company’s stock.

BKH has been the subject of a number of research analyst reports. Credit Suisse Group lowered shares of Black Hills from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $69.00 to $66.00 in a research report on Wednesday, January 23rd. They noted that the move was a valuation call. Williams Capital lowered shares of Black Hills from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a research report on Wednesday, February 6th. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $69.00 price objective for the company in a research report on Monday, February 11th. Zacks Investment Research raised shares of Black Hills from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Monday, February 11th. Finally, Scotiabank raised shares of Black Hills from an “underperform” rating to a “sector perform” rating and upped their price objective for the company from $64.00 to $70.00 in a research report on Wednesday, May 8th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Black Hills presently has a consensus rating of “Hold” and a consensus target price of $68.71.

NYSE:BKH opened at $75.80 on Thursday. Black Hills Corp has a 12-month low of $55.07 and a 12-month high of $76.70. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.82 and a quick ratio of 0.67. The stock has a market capitalization of $4.61 billion, a P/E ratio of 21.41, a price-to-earnings-growth ratio of 4.60 and a beta of 0.44.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.15. Black Hills had a net margin of 12.91% and a return on equity of 9.97%. The firm had revenue of $597.80 million during the quarter, compared to analyst estimates of $581.85 million. During the same quarter in the prior year, the business posted $1.63 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities analysts predict that Black Hills Corp will post 3.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Friday, May 17th will be given a $0.505 dividend. This represents a $2.02 annualized dividend and a yield of 2.66%. The ex-dividend date is Thursday, May 16th. Black Hills’s dividend payout ratio (DPR) is presently 57.06%.

In related news, insider David R. Emery sold 7,500 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $71.31, for a total value of $534,825.00. Following the completion of the transaction, the insider now owns 190,306 shares of the company’s stock, valued at $13,570,720.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Black Hills 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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