Retirement Systems of Alabama Has $4,195,000 Stake in Black Hills Corp. (BKH)
Retirement Systems of Alabama raised its position in Black Hills Corp. (NYSE:BKH) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 66,545 shares of the company’s stock after buying an additional 534 shares during the period. Retirement Systems of Alabama’s holdings in Black Hills Corp. were worth $4,195,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Invictus RG purchased a new position in shares of Black Hills Corp. during the first quarter valued at $178,000. LS Investment Advisors LLC increased its position in shares of Black Hills Corp. by 77.5% in the second quarter. LS Investment Advisors LLC now owns 3,095 shares of the company’s stock valued at $195,000 after buying an additional 1,351 shares in the last quarter. Capstone Asset Management Co. purchased a new position in shares of Black Hills Corp. during the second quarter valued at $224,000. Parametrica Management Ltd purchased a new position in shares of Black Hills Corp. during the second quarter valued at $276,000. Finally, Bollard Group LLC increased its position in shares of Black Hills Corp. by 0.7% in the second quarter. Bollard Group LLC now owns 4,827 shares of the company’s stock valued at $304,000 after buying an additional 34 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.
Black Hills Corp. (NYSE:BKH) traded down 0.37% during midday trading on Friday, hitting $58.52. 175,625 shares of the stock traded hands. The company’s 50 day moving average price is $59.52 and its 200 day moving average price is $60.40. Black Hills Corp. has a 12 month low of $40.00 and a 12 month high of $64.58. The firm has a market cap of $3.06 billion, a PE ratio of 172.12 and a beta of 0.76.
Black Hills Corp. (NYSE:BKH) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.14. Black Hills Corp. had a return on equity of 9.94% and a net margin of 1.22%. During the same quarter last year, the company posted $0.56 earnings per share. Equities research analysts predict that Black Hills Corp. will post $3.01 earnings per share for the current fiscal year.
Several equities analysts have weighed in on BKH shares. Zacks Investment Research raised shares of Black Hills Corp. from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, October 5th. TheStreet downgraded shares of Black Hills Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Black Hills Corp. from $62.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Black Hills Corp. presently has an average rating of “Buy” and an average target price of $61.33.
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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