PNC Financial Services Group Inc. increased its stake in shares of Black Hills Corp. (NYSE:BKH) by 10.4% during the second quarter, Holdings Channel reports. The institutional investor owned 11,189 shares of the company’s stock after buying an additional 1,050 shares during the period. PNC Financial Services Group Inc.’s holdings in Black Hills Corp. were worth $705,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of BKH. Princeton Alpha Management LP acquired a new stake in Black Hills Corp. during the second quarter valued at about $719,000. GSA Capital Partners LLP acquired a new stake in Black Hills Corp. during the second quarter valued at about $1,053,000. TD Asset Management Inc. boosted its stake in Black Hills Corp. by 24.7% in the second quarter. TD Asset Management Inc. now owns 17,163 shares of the company’s stock valued at $1,082,000 after buying an additional 3,400 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Black Hills Corp. by 12.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 31,192 shares of the company’s stock valued at $1,966,000 after buying an additional 3,375 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Black Hills Corp. by 11.9% in the second quarter. SG Americas Securities LLC now owns 16,896 shares of the company’s stock valued at $1,065,000 after buying an additional 1,794 shares during the period. 88.92% of the stock is owned by hedge funds and other institutional investors.

Black Hills Corp. (NYSE:BKH) traded up 0.75% on Tuesday, reaching $60.22. The company had a trading volume of 478,284 shares. Black Hills Corp. has a 52-week low of $37.68 and a 52-week high of $64.58. The stock’s 50-day moving average price is $59.52 and its 200 day moving average price is $60.22. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 177.12 and a beta of 0.71.

Black Hills Corp. (NYSE:BKH) last posted its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by $0.14. Black Hills Corp. had a net margin of 1.22% and a return on equity of 9.94%. During the same period in the previous year, the business posted $0.56 earnings per share. On average, equities analysts anticipate that Black Hills Corp. will post $3.01 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were issued a $0.42 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $1.68 annualized dividend and a yield of 2.79%. Black Hills Corp.’s dividend payout ratio (DPR) is presently 646.18%.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Black Hills Corp. from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. raised their price target on Black Hills Corp. from $62.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. TheStreet lowered Black Hills Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, Bank of America Corp. restated a “buy” rating on shares of Black Hills Corp. in a research report on Tuesday, May 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Black Hills Corp. presently has an average rating of “Buy” and an average price target of $62.17.

About Black Hills Corp.

Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.

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