Nationwide Fund Advisors lowered its stake in Black Hills Corp (NYSE:BKH) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,270 shares of the utilities provider’s stock after selling 3,963 shares during the quarter. Nationwide Fund Advisors owned 0.31% of Black Hills worth $11,382,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Black Hills by 1.1% in the 2nd quarter. BlackRock Inc. now owns 8,335,355 shares of the utilities provider’s stock valued at $562,384,000 after purchasing an additional 91,668 shares during the period. Vanguard Group Inc. boosted its holdings in Black Hills by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,223,071 shares of the utilities provider’s stock worth $352,401,000 after acquiring an additional 118,774 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Black Hills by 7.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,494,071 shares of the utilities provider’s stock worth $168,275,000 after acquiring an additional 171,383 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in Black Hills by 19.1% during the 2nd quarter. Macquarie Group Ltd. now owns 974,182 shares of the utilities provider’s stock worth $65,728,000 after acquiring an additional 155,969 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Black Hills during the 2nd quarter worth $61,993,000. Institutional investors own 95.31% of the company’s stock.
A number of research firms have issued reports on BKH. Zacks Investment Research raised shares of Black Hills from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $73.00 price objective on shares of Black Hills in a report on Wednesday, August 9th. J P Morgan Chase & Co lifted their price objective 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. Wells Fargo & Company began coverage on shares of Black Hills in a report on Friday, October 27th. They set a “market perform” rating and a $58.00 price objective on the stock. Finally, Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 price objective on the stock in a report on Monday, November 13th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.13.
Black Hills (NYSE:BKH) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). Black Hills had a return on equity of 10.47% and a net margin of 8.47%. The business had revenue of $342.10 million for the quarter, compared to the consensus estimate of $369.84 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. research analysts predict that Black Hills Corp will post 3.35 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were paid a $0.475 dividend. This is a boost from Black Hills’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, November 16th. Black Hills’s payout ratio is currently 72.52%.
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Black Hills 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.
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