State of Tennessee Treasury Department raised its stake in shares of Black Hills Corporation (NYSE:BKH) by 100.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the utilities provider’s stock after purchasing an additional 30,000 shares during the quarter. State of Tennessee Treasury Department owned 0.11% of Black Hills Corporation worth $4,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flinton Capital Management LLC boosted its holdings in Black Hills Corporation by 2.1% during the first quarter. Flinton Capital Management LLC now owns 1,536 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 32 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Black Hills Corporation by 8.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock worth $132,000 after acquiring an additional 146 shares in the last quarter. Meadow Creek Investment Management LLC boosted its holdings in shares of Black Hills Corporation by 2.1% in the 1st quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 44 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Black Hills Corporation in the 1st quarter worth approximately $144,000. Finally, Glen Harbor Capital Management LLC boosted its holdings in shares of Black Hills Corporation by 2.1% in the 1st quarter. Glen Harbor Capital Management LLC now owns 2,688 shares of the utilities provider’s stock worth $179,000 after acquiring an additional 56 shares in the last quarter. 94.01% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Williams Capital boosted their target price on 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 raised Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Royal Bank Of Canada reissued 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 downgraded Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Black Hills Corporation has an average rating of “Buy” and an average price target of $72.50.

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Black Hills Corporation (NYSE:BKH) opened at 69.50 on Wednesday. The firm has a market capitalization of $3.72 billion, a P/E ratio of 29.02 and a beta of 0.80. Black Hills Corporation has a one year low of $54.76 and a one year high of $72.02. The stock has a 50 day moving average price of $69.99 and a 200 day moving average price of $68.42.

Black Hills Corporation (NYSE:BKH) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). The firm had revenue of $348.00 million during the quarter, compared to the consensus estimate of $356.85 million. Black Hills Corporation had a net margin of 7.71% and a return on equity of 10.48%. The business’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the business earned $0.39 earnings per share. On average, equities analysts predict that Black Hills Corporation will post $3.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 18th were paid a $0.445 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $1.78 dividend on an annualized basis and a yield of 2.56%. Black Hills Corporation’s dividend payout ratio (DPR) is 74.79%.

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.

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

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