Cramer Rosenthal Mcglynn LLC boosted its holdings in Black Hills Corp (NYSE:BKH) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 582,879 shares of the utilities provider’s stock after buying an additional 13,789 shares during the period. Cramer Rosenthal Mcglynn LLC owned 1.09% of Black Hills worth $35,037,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BKH. Covenant Multifamily Offices LLC acquired a new stake in Black Hills in the 4th quarter worth about $102,000. Ffcm LLC boosted its stake in Black Hills by 1,201.5% in the 4th quarter. Ffcm LLC now owns 1,770 shares of the utilities provider’s stock worth $106,000 after buying an additional 1,634 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Black Hills by 48.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the utilities provider’s stock worth $174,000 after buying an additional 940 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Black Hills by 2.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock worth $218,000 after buying an additional 81 shares during the last quarter. Finally, Ramsey Quantitative Systems acquired a new stake in Black Hills in the 4th quarter worth about $223,000. 98.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on BKH. Williams Capital raised Black Hills from a “hold” rating to a “buy” rating and decreased their price target for the stock from $70.00 to $62.00 in a research note on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price target on Black Hills from $67.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, January 25th. Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 price target on the stock in a research note on Monday, November 13th. Finally, Credit Suisse Group lowered Black Hills from an “outperform” rating to a “neutral” rating and set a $66.00 price target on the stock. in a research note on Tuesday, January 9th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $64.50.
Black Hills (NYSE:BKH) last released its quarterly earnings data on Thursday, February 1st. The utilities provider reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $455.30 million during the quarter, compared to analyst estimates of $504.05 million. Black Hills had a net margin of 10.83% and a return on equity of 10.10%. sell-side analysts anticipate that Black Hills Corp will post 3.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Thursday, February 15th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Wednesday, February 14th. Black Hills’s dividend payout ratio is currently 56.89%.
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Black Hills 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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