Black Hills Corporation (NYSE:BKH) Shares Bought by Texas Permanent School Fund

Texas Permanent School Fund raised its position in Black Hills Corporation (NYSE:BKH) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,033 shares of the utilities provider’s stock after buying an additional 383 shares during the period. Texas Permanent School Fund owned 0.07% of Black Hills Corporation worth $2,634,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the company. Flinton Capital Management LLC raised its stake 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 buying an additional 32 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake 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 buying an additional 44 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Black Hills Corporation during the first quarter worth $144,000. Glen Harbor Capital Management LLC raised its stake in Black Hills Corporation by 2.1% in the first quarter. Glen Harbor Capital Management LLC now owns 2,688 shares of the utilities provider’s stock worth $179,000 after buying an additional 56 shares during the last quarter. Finally, Elkfork Partners LLC raised its stake in Black Hills Corporation by 2.1% in the first quarter. Elkfork Partners LLC now owns 3,264 shares of the utilities provider’s stock worth $217,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 94.40% of the company’s stock.

Shares of Black Hills Corporation (NYSE BKH) traded up 0.03% during midday trading on Friday, reaching $68.73. The company’s stock had a trading volume of 222,946 shares. The company has a market cap of $3.68 billion, a P/E ratio of 28.70 and a beta of 0.82. The stock’s 50-day moving average price is $69.16 and its 200-day moving average price is $67.45. Black Hills Corporation has a 12-month low of $54.76 and a 12-month high of $72.02.

Black Hills Corporation (NYSE:BKH) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $348 million for the quarter, compared to analyst estimates of $356.85 million. During the same period last year, the firm earned $0.39 earnings per share. Black Hills Corporation’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, analysts expect that Black Hills Corporation will post $3.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Wednesday, August 16th. Black Hills Corporation’s dividend payout ratio is currently 74.79%.

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BKH has been the topic of a number of recent research reports. Singular Research increased their price target on Black Hills Corporation from $68.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Royal Bank Of Canada reissued a “buy” rating and set a $73.00 price target on shares of Black Hills Corporation in a research report on Wednesday, August 9th. Williams Capital increased their price target on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, June 19th. BMO Capital Markets increased their price target on Black Hills Corporation from $67.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, May 5th. Finally, BidaskClub downgraded Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $72.50.

Black Hills Corporation Company 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.

Institutional Ownership by Quarter for Black Hills Corporation (NYSE:BKH)

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