Cambridge Investment Research Advisors Inc. Takes Position in Black Hills Corporation (BKH)
Cambridge Investment Research Advisors Inc. acquired a new stake in Black Hills Corporation (NYSE:BKH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 5,736 shares of the utilities provider’s stock, valued at approximately $387,000.
Other institutional investors also recently added to or reduced their stakes in the company. Flinton Capital Management LLC boosted its position in Black Hills Corporation by 2.1% in the 1st quarter. Flinton Capital Management LLC now owns 1,536 shares of the utilities provider’s stock valued at $102,000 after buying an additional 32 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Black Hills Corporation by 8.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after buying an additional 146 shares during the period. Meadow Creek Investment Management LLC boosted its position in Black Hills Corporation by 2.1% in the 1st quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock valued at $140,000 after buying an additional 44 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Black Hills Corporation in the 1st quarter valued at about $144,000. Finally, Denver Investment Advisors LLC purchased a new stake in Black Hills Corporation in the 2nd quarter valued at about $202,000. 94.01% of the stock is owned by institutional investors.
Shares of Black Hills Corporation (NYSE:BKH) opened at 69.81 on Friday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 29.15 and a beta of 0.80. Black Hills Corporation has a 12-month low of $54.76 and a 12-month high of $72.02. The stock has a 50 day moving average of $69.97 and a 200 day moving average of $68.48.
Black Hills Corporation (NYSE:BKH) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.10). The company had revenue of $348.00 million for the quarter, compared to analysts’ expectations of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.39 EPS. Analysts forecast that Black Hills Corporation will post $3.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 2.55%. The ex-dividend date was Wednesday, August 16th. Black Hills Corporation’s dividend payout ratio (DPR) is presently 74.79%.
Several research firms have issued reports on BKH. BidaskClub cut shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research cut shares of Black Hills Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Royal Bank Of Canada reissued a “buy” rating and issued a $70.00 price objective on shares of Black Hills Corporation in a research report on Monday, July 31st. Finally, Williams Capital boosted their price objective on shares of Black Hills Corporation from $68.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, June 19th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $72.50.
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About Black Hills Corporation
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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