State Treasurer State of Michigan trimmed its holdings in Black Hills Corporation (NYSE:BKH) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,090 shares of the utilities provider’s stock after selling 1,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Black Hills Corporation were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of BKH. Janus Henderson Group PLC bought a new position in shares of Black Hills Corporation in the 2nd quarter worth about $61,993,000. Renaissance Technologies LLC increased its stake in shares of Black Hills Corporation by 35.9% in the 2nd quarter. Renaissance Technologies LLC now owns 720,800 shares of the utilities provider’s stock worth $48,632,000 after acquiring an additional 190,500 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Black Hills Corporation by 7.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,494,071 shares of the utilities provider’s stock worth $168,275,000 after acquiring an additional 171,383 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Black Hills Corporation by 19.1% in the 2nd quarter. Macquarie Group Ltd. now owns 974,182 shares of the utilities provider’s stock worth $65,728,000 after acquiring an additional 155,969 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Black Hills Corporation by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,223,071 shares of the utilities provider’s stock worth $352,401,000 after acquiring an additional 118,774 shares in the last quarter. Institutional investors own 93.77% of the company’s stock.

Shares of Black Hills Corporation (NYSE:BKH) opened at $59.74 on Tuesday. Black Hills Corporation has a one year low of $54.76 and a one year high of $72.02. The company has a market cap of $3,274.32, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 3.28 and a beta of 0.78. The company has a current ratio of 0.82, a quick ratio of 0.59 and a debt-to-equity ratio of 1.77.

Black Hills Corporation (NYSE:BKH) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Black Hills Corporation had a return on equity of 10.51% and a net margin of 8.47%. The firm had revenue of $342.10 million for the quarter, compared to the consensus estimate of $369.84 million. During the same quarter in the previous year, the business posted $0.48 EPS. Black Hills Corporation’s revenue was up 2.5% on a year-over-year basis. equities analysts forecast that Black Hills Corporation will post 3.35 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.475 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.90 annualized dividend and a dividend yield of 3.18%. This is a boost from Black Hills Corporation’s previous quarterly dividend of $0.45. Black Hills Corporation’s dividend payout ratio (DPR) is presently 67.94%.

A number of research firms have weighed in on BKH. Credit Suisse Group restated an “outperform” rating and set a $66.00 price objective (down from $77.00) on shares of Black Hills Corporation in a research note on Monday. They noted that the move was a valuation call. Royal Bank Of Canada reduced their price objective on shares of Black Hills Corporation from $72.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday. Zacks Investment Research raised shares of Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. J P Morgan Chase & Co raised their price target on shares of Black Hills Corporation from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Finally, Wells Fargo & Company began coverage on shares of Black Hills Corporation in a report on Friday, October 27th. They set a “market perform” rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $68.75.

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

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