Axa Buys Shares of 75,400 Black Hills Corporation (BKH)

Axa bought a new position in Black Hills Corporation (NYSE:BKH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 75,400 shares of the utilities provider’s stock, valued at approximately $5,087,000. Axa owned about 0.14% of Black Hills Corporation at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its holdings in shares of Black Hills Corporation by 6,088.6% in 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Black Hills Corporation by 13.9% in 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Black Hills Corporation by 76.7% in 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 during the last quarter. Wellington Management Group LLP raised its holdings in shares of Black Hills Corporation by 24.1% in 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Black Hills Corporation by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 970,853 shares of the utilities provider’s stock worth $64,531,000 after acquiring an additional 4,188 shares during the last quarter. Institutional investors own 94.01% of the company’s stock.

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

Shares of Black Hills Corporation (NYSE:BKH) opened at 69.63 on Friday. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of 29.07 and a beta of 0.80. The firm has a 50-day moving average of $69.96 and a 200 day moving average of $68.51. Black Hills Corporation has a 1-year low of $54.76 and a 1-year high of $72.02.

Black Hills Corporation (NYSE:BKH) last issued its 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). The firm had revenue of $348.00 million during the quarter, compared to analysts’ expectations of $356.85 million. Black Hills Corporation had a return on equity of 10.48% and a net margin of 7.71%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share. Equities research analysts forecast that Black Hills Corporation will post $3.58 earnings per share for the current year.

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