Janus Henderson Group PLC increased its holdings in shares of Black Hills Corp (NYSE:BKH) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 958,976 shares of the utilities provider’s stock after purchasing an additional 40,152 shares during the period. Janus Henderson Group PLC owned 1.79% of Black Hills worth $66,045,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas boosted its position in Black Hills by 0.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 24,333 shares of the utilities provider’s stock worth $1,642,000 after purchasing an additional 67 shares during the period. Public Employees Retirement System of Ohio boosted its position in Black Hills by 2.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 81 shares during the period. World Asset Management Inc boosted its position in Black Hills by 2.7% during the 2nd quarter. World Asset Management Inc now owns 3,375 shares of the utilities provider’s stock worth $228,000 after purchasing an additional 90 shares during the period. Virginia Retirement Systems ET AL boosted its position in Black Hills by 0.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 26,600 shares of the utilities provider’s stock worth $1,795,000 after purchasing an additional 100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Black Hills by 8.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock worth $132,000 after purchasing an additional 146 shares during the period. 95.41% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on BKH shares. Zacks Investment Research raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Wells Fargo & Company began coverage on shares of Black Hills in a research report on Friday, October 27th. They issued a “market perform” rating and a $58.00 price objective for the company. Bank of America began coverage on shares of Black Hills in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $66.00 price objective for the company. Credit Suisse Group reissued an “outperform” rating and issued a $66.00 price objective (down from $77.00) on shares of Black Hills in a research report on Monday, November 6th. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co upped their price objective on shares of Black Hills from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Black Hills has an average rating of “Buy” and a consensus price target of $68.13.
Black Hills (NYSE:BKH) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The firm had revenue of $342.10 million during the quarter, compared to analysts’ expectations of $369.84 million. Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. equities research analysts predict that Black Hills Corp will post 3.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Thursday, November 16th. This is a positive change from Black Hills’s previous quarterly dividend of $0.45. Black Hills’s dividend payout ratio is 72.52%.
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About Black Hills
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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