Strs Ohio Lowers Position in Black Hills Corporation (BKH)

Strs Ohio reduced its position in shares of Black Hills Corporation (NYSE:BKH) by 19.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 275,800 shares of the utilities provider’s stock after selling 65,100 shares during the period. Strs Ohio owned approximately 0.52% of Black Hills Corporation worth $18,608,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in BKH. Flinton Capital Management LLC boosted its stake in shares of 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 worth $102,000 after buying an additional 32 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of 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 worth $140,000 after buying an additional 44 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Black Hills Corporation during the first quarter worth about $144,000. Glen Harbor Capital Management LLC boosted its stake in shares of 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 worth $179,000 after buying an additional 56 shares during the period. Finally, Fruth Investment Management purchased a new stake in shares of Black Hills Corporation during the first quarter worth about $203,000. 94.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Black Hills Corporation (NYSE:BKH) traded down 1.03% during trading on Friday, hitting $69.52. The stock had a trading volume of 252,926 shares. Black Hills Corporation has a one year low of $54.76 and a one year high of $72.02. The firm has a market cap of $3.72 billion, a P/E ratio of 29.03 and a beta of 0.82. The firm’s 50-day moving average is $69.16 and its 200-day moving average is $67.18.

Black Hills Corporation (NYSE:BKH) last released its earnings results 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. The firm had revenue of $348 million during the quarter, compared to analyst estimates of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. Equities research analysts forecast that Black Hills Corporation will post $3.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be given a $0.445 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.78 dividend on an annualized basis and a yield of 2.56%. Black Hills Corporation’s dividend payout ratio (DPR) is 74.79%.

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A number of analysts have weighed in on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of Black Hills Corporation in a research report on Monday, July 31st. BidaskClub cut Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Williams Capital increased their price objective on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. BMO Capital Markets increased their price objective on Black Hills Corporation from $67.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. Finally, Singular Research increased their price objective on Black Hills Corporation from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $72.50.

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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