Principal Financial Group Inc. boosted its position in Black Hills Corp. (NYSE:BKH) by 13.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 195,411 shares of the company’s stock after buying an additional 22,965 shares during the period. Principal Financial Group Inc. owned approximately 0.38% of Black Hills Corp. worth $12,319,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Black Hills Corp. by 43.5% in the first quarter. State Street Corp now owns 5,412,338 shares of the company’s stock worth $325,439,000 after buying an additional 1,640,495 shares during the last quarter. Renaissance Technologies LLC raised its stake in Black Hills Corp. by 202.4% in the first quarter. Renaissance Technologies LLC now owns 602,400 shares of the company’s stock worth $36,222,000 after buying an additional 403,200 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in Black Hills Corp. by 15.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,500,000 shares of the company’s stock worth $90,195,000 after buying an additional 200,000 shares during the period. Hillcrest Asset Management LLC bought a new stake in Black Hills Corp. during the first quarter worth approximately $11,900,000. Finally, Neuberger Berman Group LLC raised its stake in Black Hills Corp. by 33.7% in the second quarter. Neuberger Berman Group LLC now owns 773,083 shares of the company’s stock worth $48,735,000 after buying an additional 194,969 shares during the period. 88.67% of the stock is owned by institutional investors and hedge funds.
Shares of Black Hills Corp. (NYSE:BKH) opened at 57.55 on Tuesday. The company’s 50 day moving average price is $59.71 and its 200-day moving average price is $60.46. Black Hills Corp. has a 12 month low of $40.00 and a 12 month high of $64.58. The stock has a market capitalization of $3.01 billion, a P/E ratio of 169.26 and a beta of 0.76.
Black Hills Corp. (NYSE:BKH) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.14. Black Hills Corp. had a net margin of 1.22% and a return on equity of 9.94%. During the same period in the prior year, the firm earned $0.56 EPS. Equities analysts predict that Black Hills Corp. will post $3.01 earnings per share for the current year.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Black Hills Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. TheStreet lowered Black Hills Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on Black Hills Corp. from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $61.33.
About Black Hills Corp.
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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