Lord Abbett & CO. LLC lowered its holdings in shares of Black Hills Corporation (NYSE:BKH) by 3.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,336,388 shares of the utilities provider’s stock after selling 54,315 shares during the period. Lord Abbett & CO. LLC owned 2.50% of Black Hills Corporation worth $90,166,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of BKH. UBS Asset Management Americas Inc. grew its holdings in Black Hills Corporation by 31.5% during the first quarter. UBS Asset Management Americas Inc. now owns 38,861 shares of the utilities provider’s stock worth $2,583,000 after purchasing an additional 9,298 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Black Hills Corporation by 4.1% during the first quarter. Parametric Portfolio Associates LLC now owns 83,093 shares of the utilities provider’s stock worth $5,523,000 after purchasing an additional 3,246 shares during the period. SG Americas Securities LLC bought a new position in Black Hills Corporation during the first quarter worth about $293,000. Credit Agricole S A bought a new position in Black Hills Corporation during the first quarter worth about $321,000. Finally, OppenheimerFunds Inc. grew its holdings in Black Hills Corporation by 37.3% during the first quarter. OppenheimerFunds Inc. now owns 6,848 shares of the utilities provider’s stock worth $455,000 after purchasing an additional 1,862 shares during the period. Institutional investors and hedge funds own 93.61% of the company’s stock.

A number of equities analysts recently commented on the company. J P Morgan Chase & Co lifted their price target on Black Hills Corporation from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Zacks Investment Research upgraded Black Hills Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Williams Capital lifted their price target on Black Hills Corporation from $68.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, June 19th. Royal Bank Of Canada reiterated a “buy” rating and set a $73.00 price target on shares of Black Hills Corporation in a report on Wednesday, August 9th. Finally, BidaskClub cut Black Hills Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Black Hills Corporation has an average rating of “Buy” and an average price target of $74.33.

Shares of Black Hills Corporation (NYSE BKH) traded down 0.13% during midday trading on Tuesday, reaching $67.60. 32,558 shares of the company’s stock traded hands. Black Hills Corporation has a 12 month low of $54.76 and a 12 month high of $72.02. The firm has a market cap of $3.61 billion, a PE ratio of 28.23 and a beta of 0.79. The stock has a 50-day moving average price of $69.24 and a 200 day moving average price of $69.01.

Black Hills Corporation (NYSE:BKH) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.41 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $356.85 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities research analysts predict that Black Hills Corporation will post $3.51 earnings per share for the current year.

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About Black Hills Corporation

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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