California State Teachers Retirement System cut its holdings in shares of Black Hills Corp (NYSE:BKH) by 3.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,508 shares of the utilities provider’s stock after selling 2,858 shares during the period. California State Teachers Retirement System owned about 0.15% of Black Hills worth $4,426,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Csenge Advisory Group bought a new stake in Black Hills during the first quarter worth $206,000. M&T Bank Corp bought a new stake in Black Hills during the first quarter worth $210,000. Commonwealth Equity Services LLC bought a new stake in Black Hills during the first quarter worth $210,000. Element Capital Management LLC bought a new stake in Black Hills during the first quarter worth $222,000. Finally, HRT Financial LLC bought a new stake in Black Hills during the first quarter worth $311,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.
Several equities research analysts have weighed in on the company. ValuEngine upgraded Black Hills from a “sell” rating to a “hold” rating in a research note on Thursday. Credit Suisse Group upped their price target on shares of Black Hills from $59.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, May 21st. JPMorgan Chase & Co. upped their price target on shares of Black Hills from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Tuesday, April 10th. Finally, Zacks Investment Research upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Tuesday, March 27th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $59.67.
Shares of Black Hills opened at $63.97 on Friday, Marketbeat.com reports. The firm has a market cap of $3.32 billion, a PE ratio of 19.04, a P/E/G ratio of 4.40 and a beta of 0.52. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.62 and a quick ratio of 0.52. Black Hills Corp has a 52-week low of $50.49 and a 52-week high of $71.01.
Black Hills (NYSE:BKH) last announced its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.10. The company had revenue of $575.40 million during the quarter, compared to the consensus estimate of $560.38 million. Black Hills had a net margin of 13.98% and a return on equity of 10.49%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.39 earnings per share. sell-side analysts anticipate that Black Hills Corp will post 3.4 EPS for the current year.
Black Hills Company Profile
Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.
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