Macquarie Group Ltd. Acquires 22,101 Shares of Black Hills Corp. (BKH)
Macquarie Group Ltd. raised its stake in Black Hills Corp. (NYSE:BKH) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,709 shares of the company’s stock after buying an additional 22,101 shares during the period. Macquarie Group Ltd. owned approximately 1.38% of Black Hills Corp. worth $45,559,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of BKH. Americafirst Capital Management LLC raised its position in Black Hills Corp. by 6.7% in the second quarter. Americafirst Capital Management LLC now owns 36,384 shares of the company’s stock valued at $2,294,000 after buying an additional 2,290 shares during the period. Nisa Investment Advisors LLC raised its position in Black Hills Corp. by 4.7% in the second quarter. Nisa Investment Advisors LLC now owns 73,800 shares of the company’s stock valued at $4,652,000 after buying an additional 3,300 shares during the period. Eqis Capital Management Inc. raised its position in Black Hills Corp. by 6.2% in the second quarter. Eqis Capital Management Inc. now owns 5,214 shares of the company’s stock valued at $329,000 after buying an additional 303 shares during the period. Capstone Asset Management Co. acquired a new position in Black Hills Corp. during the second quarter valued at about $224,000. Finally, First PREMIER Bank raised its position in Black Hills Corp. by 0.8% in the second quarter. First PREMIER Bank now owns 31,814 shares of the company’s stock valued at $2,006,000 after buying an additional 260 shares during the period. 88.60% of the stock is owned by hedge funds and other institutional investors.
Black Hills Corp. (NYSE:BKH) traded up 0.75% during mid-day trading on Friday, hitting $58.73. 258,612 shares of the stock traded hands. The company has a 50 day moving average price of $59.75 and a 200-day moving average price of $60.55. The stock has a market capitalization of $3.12 billion, a PE ratio of 74.34 and a beta of 0.73. Black Hills Corp. has a one year low of $40.00 and a one year high of $64.58.
Black Hills Corp. (NYSE:BKH) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. Black Hills Corp. had a net margin of 2.85% and a return on equity of 9.10%. The business earned $333.80 million during the quarter, compared to analysts’ expectations of $414.77 million. During the same quarter in the previous year, the company earned $0.64 EPS. The business’s revenue was up 22.7% on a year-over-year basis. Equities analysts anticipate that Black Hills Corp. will post $3.00 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Thursday, November 17th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.86%. The ex-dividend date is Tuesday, November 15th. Black Hills Corp.’s dividend payout ratio (DPR) is 227.03%.
BKH has been the topic of several research analyst reports. Zacks Investment Research cut shares of Black Hills Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Black Hills Corp. from $62.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, August 5th. Finally, TheStreet cut shares of Black Hills Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 6th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $61.33.
About Black Hills Corp.
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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