California State Teachers Retirement System lessened its stake in Black Hills Corp (NYSE:BKH) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,634 shares of the utilities provider’s stock after selling 9,155 shares during the period. California State Teachers Retirement System owned about 0.16% of Black Hills worth $5,898,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in Black Hills by 1.1% in the 2nd quarter. BlackRock Inc. now owns 8,335,355 shares of the utilities provider’s stock worth $562,384,000 after purchasing an additional 91,668 shares in the last quarter. Vanguard Group Inc. boosted its position in Black Hills 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 purchasing an additional 118,774 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Black Hills 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 purchasing an additional 171,383 shares in the last quarter. Macquarie Group Ltd. boosted its position in Black Hills by 7.2% in the 3rd quarter. Macquarie Group Ltd. now owns 1,044,103 shares of the utilities provider’s stock worth $71,907,000 after purchasing an additional 69,921 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Black Hills in the 2nd quarter worth approximately $61,993,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Black Hills Corp (NYSE:BKH) opened at $60.11 on Monday. Black Hills Corp has a 52-week low of $57.01 and a 52-week high of $72.02. The stock has a market capitalization of $3,214.96, a P/E ratio of 22.94, a PEG ratio of 3.71 and a beta of 0.73. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.47 and a current ratio of 0.69.

Black Hills (NYSE:BKH) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The business had revenue of $342.10 million for the quarter, compared to analysts’ expectations of $369.84 million. Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. analysts expect that Black Hills Corp will post 3.34 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on BKH. Zacks Investment Research upgraded Black Hills from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. JPMorgan Chase & Co. increased their target price on Black Hills from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research report on Monday, November 13th. Wells Fargo & Co began coverage on Black Hills in a research report on Friday, October 27th. They set a “market perform” rating and a $58.00 target price on the stock. Finally, Credit Suisse Group increased their target price on Black Hills from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Black Hills has a consensus rating of “Buy” and an average price target of $68.13.

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Black Hills 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 (NYSE:BKH)

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