Cramer Rosenthal Mcglynn LLC lowered its stake in Black Hills Corp (NYSE:BKH) by 15.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 569,090 shares of the utilities provider’s stock after selling 100,985 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 1.06% of Black Hills worth $39,193,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in Black Hills by 1.1% during 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. increased its stake in Black Hills by 2.3% in 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. increased its stake in Black Hills by 7.4% in 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. increased its stake in Black Hills by 7.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,044,103 shares of the utilities provider’s stock worth $71,907,000 after acquiring an additional 69,921 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Black Hills in the 2nd quarter worth approximately $61,993,000. 95.31% of the stock is currently owned by hedge funds and other institutional investors.
Black Hills Corp (NYSE:BKH) opened at $58.12 on Tuesday. Black Hills Corp has a 1-year low of $57.26 and a 1-year high of $72.02. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $3,114.94, a price-to-earnings ratio of 17.18, a P/E/G ratio of 3.12 and a beta of 0.73.
Black Hills (NYSE:BKH) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.05). Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The business had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $369.84 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Black Hills’s revenue was up 2.5% compared to the same quarter last year. equities analysts expect that Black Hills Corp will post 3.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.90 dividend on an annualized basis and a yield of 3.27%. This is a boost from Black Hills’s previous quarterly dividend of $0.45. Black Hills’s payout ratio is presently 72.52%.
A number of analysts have issued reports on BKH shares. Zacks Investment Research raised Black Hills from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Black Hills in a research note on Wednesday, August 9th. Wells Fargo & Company initiated coverage on Black Hills in a report on Friday, October 27th. They issued a “market perform” rating and a $58.00 target price for the company. Bank of America initiated coverage on Black Hills in a report on Tuesday, October 24th. They issued an “underperform” rating and a $66.00 target price for the company. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $66.00 target price (down previously from $77.00) on shares of Black Hills in a report on Monday, November 6th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Black Hills currently has an average rating of “Buy” and an average price target of $68.13.
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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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