Schwab Charles Investment Management Inc. raised its position in shares of Black Hills Corp (NYSE:BKH) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 375,709 shares of the utilities provider’s stock after purchasing an additional 16,906 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Black Hills were worth $22,584,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Advisor Group Inc. raised its holdings in Black Hills by 7.7% during the 2nd quarter. Advisor Group Inc. now owns 2,119 shares of the utilities provider’s stock valued at $142,000 after buying an additional 151 shares during the period. Public Employees Retirement System of Ohio raised its holdings 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 valued at $218,000 after buying an additional 81 shares during the period. Jane Street Group LLC purchased a new stake in Black Hills during the 3rd quarter valued at $282,000. JPMorgan Chase & Co. raised its holdings in Black Hills by 5.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,424 shares of the utilities provider’s stock valued at $298,000 after buying an additional 213 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Black Hills by 17.3% during the 2nd quarter. HighTower Advisors LLC now owns 4,556 shares of the utilities provider’s stock valued at $306,000 after buying an additional 671 shares during the period. 96.42% of the stock is currently owned by institutional investors and hedge funds.
Shares of Black Hills Corp (NYSE:BKH) opened at $52.39 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.69 and a quick ratio of 0.47. Black Hills Corp has a 52 week low of $50.71 and a 52 week high of $72.02. The firm has a market capitalization of $2,802.06, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 3.78 and a beta of 0.55.
Black Hills (NYSE:BKH) last released its earnings results on Thursday, February 1st. The utilities provider reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). Black Hills had a return on equity of 10.14% and a net margin of 10.83%. The business had revenue of $455.30 million during the quarter, compared to analysts’ expectations of $504.05 million. sell-side analysts expect that Black Hills Corp will post 3.41 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Thursday, February 15th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.90 dividend on an annualized basis and a yield of 3.63%. Black Hills’s payout ratio is 56.89%.
BKH has been the topic of several recent research reports. Bank of America initiated coverage on Black Hills in a report on Tuesday, October 24th. They set an “underperform” rating and a $66.00 price target on the stock. Wells Fargo & Co assumed coverage on Black Hills in a report on Friday, October 27th. They set a “market perform” rating and a $58.00 price target on the stock. Royal Bank of Canada reduced their target price on Black Hills from $72.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, November 6th. 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 research note on Monday, November 6th. They noted that the move was a valuation call. Finally, Williams Capital upgraded Black Hills from a “hold” rating to a “buy” rating and reduced their target price for the stock from $70.00 to $62.00 in a research note on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Black Hills currently has an average rating of “Hold” and an average price target of $64.50.
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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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