Schwab Charles Investment Management Inc. Has $22.84 Million Position in Black Hills Corporation (BKH)
Schwab Charles Investment Management Inc. boosted its holdings in Black Hills Corporation (NYSE:BKH) by 6.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 338,468 shares of the utilities provider’s stock after buying an additional 19,070 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.63% of Black Hills Corporation worth $22,837,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Flinton Capital Management LLC raised its holdings in Black Hills Corporation by 2.1% in the first quarter. Flinton Capital Management LLC now owns 1,536 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 32 shares during the period. Meadow Creek Investment Management LLC raised its holdings in Black Hills Corporation by 2.1% in the first quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 44 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in Black Hills Corporation in the first quarter worth $144,000. World Asset Management Inc acquired a new stake in Black Hills Corporation in the first quarter worth $218,000. Finally, Private Advisor Group LLC acquired a new stake in Black Hills Corporation in the first quarter worth $249,000. Institutional investors and hedge funds own 93.83% of the company’s stock.
Black Hills Corporation (NYSE:BKH) opened at 69.63 on Monday. The company 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. The company has a 50-day moving average of $69.96 and a 200-day moving average of $68.51.
Black Hills Corporation (NYSE:BKH) last released its quarterly earnings data 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). Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The business had revenue of $348.00 million for the quarter, compared to analyst estimates of $356.85 million. During the same quarter in the previous year, the company posted $0.39 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities research analysts expect that Black Hills Corporation will post $3.58 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a dividend of $0.445 per share. The ex-dividend date was Wednesday, August 16th. This represents a $1.78 annualized dividend and a yield of 2.56%. Black Hills Corporation’s payout ratio is 74.79%.
Several research firms have weighed in on BKH. Williams Capital increased their target price on shares of Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 19th. Zacks Investment Research upgraded shares of Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 target price on shares of Black Hills Corporation in a report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus 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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