Ameriprise Financial Inc. lifted its holdings in shares of Black Hills Corporation (NYSE:BKH) by 25.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 482,185 shares of the utilities provider’s stock after buying an additional 98,405 shares during the period. Ameriprise Financial Inc. owned approximately 0.90% of Black Hills Corporation worth $32,545,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in BKH. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Black Hills Corporation by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock worth $132,000 after buying an additional 146 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of Black Hills Corporation by 2.1% during the first quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock worth $140,000 after buying an additional 44 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Black Hills Corporation during the first quarter worth about $144,000. Denver Investment Advisors LLC acquired a new stake in shares of Black Hills Corporation during the second quarter worth about $202,000. Finally, World Asset Management Inc acquired a new stake in shares of Black Hills Corporation during the first quarter worth about $218,000. Institutional investors and hedge funds own 93.83% of the company’s stock.
BKH has been the subject of several recent research reports. 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. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 target price on shares of Black Hills Corporation in a research note on Wednesday, August 9th. Williams Capital increased 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. Finally, BidaskClub downgraded shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $72.50.
Shares of Black Hills Corporation (NYSE:BKH) opened at 68.60 on Monday. Black Hills Corporation has a 52 week low of $54.76 and a 52 week high of $72.02. The firm has a market cap of $3.67 billion, a P/E ratio of 28.64 and a beta of 0.80. The stock’s 50 day moving average is $69.92 and its 200 day moving average is $68.61.
Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. The business had revenue of $348.00 million for the quarter, compared to the consensus estimate of $356.85 million. During the same period in the prior year, the company earned $0.39 EPS. Black Hills Corporation’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts predict that Black Hills Corporation will post $3.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend was Wednesday, August 16th. Black Hills Corporation’s dividend payout ratio is presently 74.79%.
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.
Want to see what other hedge funds are holding BKH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Hills Corporation (NYSE:BKH).
Receive News & Ratings for Black Hills Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Hills Corporation and related companies with MarketBeat.com's FREE daily email newsletter.