Magellan Asset Management Ltd lifted its stake in shares of Black Hills Corporation (NYSE:BKH) by 7.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,656 shares of the utilities provider’s stock after acquiring an additional 2,437 shares during the quarter. Magellan Asset Management Ltd owned 0.07% of Black Hills Corporation worth $2,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BKH. BlackRock Inc. boosted its stake in shares of Black Hills Corporation by 6,088.6% during the 1st quarter. BlackRock Inc. now owns 8,243,687 shares of the utilities provider’s stock worth $547,958,000 after acquiring an additional 8,110,479 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Black Hills Corporation by 76.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,322,688 shares of the utilities provider’s stock worth $154,389,000 after acquiring an additional 1,008,172 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Black Hills Corporation by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 5,104,297 shares of the utilities provider’s stock worth $339,282,000 after acquiring an additional 624,839 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Black Hills Corporation by 24.1% during the 1st quarter. Wellington Management Group LLP now owns 1,938,261 shares of the utilities provider’s stock worth $128,836,000 after acquiring an additional 376,732 shares in the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Black Hills Corporation during the 1st quarter worth $18,492,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on BKH. Williams Capital raised their price objective on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, June 19th. Zacks Investment Research raised Black Hills Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $73.00 target price on shares of Black Hills Corporation in a research report on Wednesday, August 9th. Finally, BidaskClub cut Black Hills Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Black Hills Corporation currently has an average rating of “Buy” and an average target price of $72.50.

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Shares of Black Hills Corporation (NYSE BKH) traded down 0.27% during mid-day trading on Friday, hitting $69.63. The stock had a trading volume of 485,691 shares. The stock’s 50-day moving average price is $69.96 and its 200-day moving average price is $68.51. Black Hills Corporation has a 12-month low of $54.76 and a 12-month high of $72.02. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 29.07 and a beta of 0.80.

Black Hills Corporation (NYSE:BKH) last announced its quarterly 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 $348.00 million during the quarter, compared to analyst estimates of $356.85 million. During the same period last year, the firm earned $0.39 EPS. Black Hills Corporation’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that Black Hills Corporation will post $3.58 EPS for the current fiscal year.

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

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.

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

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