OppenheimerFunds Inc. Raises Stake in Black Hills Corporation (BKH)

OppenheimerFunds Inc. increased its stake in Black Hills Corporation (NYSE:BKH) by 37.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,848 shares of the utilities provider’s stock after buying an additional 1,862 shares during the period. OppenheimerFunds Inc.’s holdings in Black Hills Corporation were worth $455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Flinton Capital Management LLC increased its position in 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 valued at $102,000 after buying an additional 32 shares during the last quarter. Bollard Group LLC increased 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 last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Black Hills Corporation by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,200 shares of the utilities provider’s stock valued at $612,000 after buying an additional 41 shares during the last quarter. Meadow Creek Investment Management LLC increased 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 last quarter. Finally, Glen Harbor Capital Management LLC increased 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 last quarter. Institutional investors own 94.50% of the company’s stock.

Shares of Black Hills Corporation (NYSE:BKH) opened at 68.23 on Tuesday. The stock’s 50 day moving average is $69.64 and its 200 day moving average is $65.57. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 33.69 and a beta of 0.82. Black Hills Corporation has a 12 month low of $54.76 and a 12 month high of $72.02.

Black Hills Corporation (NYSE:BKH) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.01. Black Hills Corporation had a net margin of 6.53% and a return on equity of 10.55%. The business had revenue of $554 million for the quarter, compared to analyst estimates of $581 million. During the same period last year, the firm earned $1.23 earnings per share. Black Hills Corporation’s revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research analysts forecast that Black Hills Corporation will post $3.57 earnings per share for the current fiscal year.

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Several research firms have recently issued reports on BKH. Williams Capital boosted their price objective on shares of Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 19th. BMO Capital Markets boosted their price objective on shares of Black Hills Corporation from $67.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Royal Bank Of Canada restated a “buy” rating and set a $70.00 price objective on shares of Black Hills Corporation in a report on Friday, June 30th. BidaskClub downgraded shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Finally, Singular Research boosted their price objective on shares of Black Hills Corporation from $68.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $71.29.

Black Hills Corporation Company 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.

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

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