Investment Centers of America Inc. Has $582,000 Stake in Black Hills Corporation (BKH)
Investment Centers of America Inc. trimmed its stake in shares of Black Hills Corporation (NYSE:BKH) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,651 shares of the utilities provider’s stock after selling 1,946 shares during the period. Investment Centers of America Inc.’s holdings in Black Hills Corporation were worth $582,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in BKH. Flinton Capital Management LLC lifted its holdings in shares of Black Hills Corporation by 2.1% during the first quarter. Flinton Capital Management LLC now owns 1,536 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 32 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Black Hills Corporation by 8.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after purchasing an additional 146 shares during the last quarter. Meadow Creek Investment Management LLC lifted its holdings in shares of Black Hills Corporation by 2.1% during the first quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 44 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Black Hills Corporation during the first quarter valued at $144,000. Finally, Denver Investment Advisors LLC purchased a new stake in shares of Black Hills Corporation during the second quarter valued at $202,000. 94.01% of the stock is owned by institutional investors and hedge funds.
BKH has been the subject of several analyst reports. Zacks Investment Research raised Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $73.00 target price on shares of Black Hills Corporation in a report on Wednesday, August 9th. Williams Capital upped their target price on Black Hills Corporation from $68.00 to $76.00 and gave the company a “buy” rating in a report on Monday, June 19th. Finally, BidaskClub downgraded Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $72.50.
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Shares of Black Hills Corporation (BKH) traded down 0.27% during midday trading on Friday, reaching $69.63. The company had a trading volume of 485,691 shares. The company’s 50-day moving average is $69.96 and its 200-day moving average is $68.51. The firm has a market cap of $3.72 billion, a P/E ratio of 29.07 and a beta of 0.80. Black Hills Corporation has a 52-week low of $54.76 and a 52-week high of $72.02.
Black Hills Corporation (NYSE:BKH) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. The business had revenue of $348.00 million during the quarter, compared to analyst estimates of $356.85 million. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that Black Hills Corporation will post $3.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $0.445 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.78 dividend on an annualized basis and a yield of 2.56%. Black Hills Corporation’s payout ratio is 74.79%.
Black Hills Corporation Profile
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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