Principal Financial Group Inc. Increases Stake in Black Hills Corporation (BKH)

Principal Financial Group Inc. grew its stake in shares of Black Hills Corporation (NYSE:BKH) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 227,303 shares of the utilities provider’s stock after purchasing an additional 11,863 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of Black Hills Corporation worth $15,337,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Murphy Capital Management Inc. raised its holdings in shares of Black Hills Corporation by 0.4% during the second quarter. Murphy Capital Management Inc. now owns 5,670 shares of the utilities provider’s stock valued at $382,000 after purchasing an additional 20 shares during the period. Ronna Sue Cohen raised its holdings in shares of Black Hills Corporation by 0.4% during the second quarter. Ronna Sue Cohen now owns 6,621 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 24 shares during the period. Bollard Group LLC raised its holdings in shares of Black Hills Corporation by 0.6% during the second quarter. Bollard Group LLC now owns 4,960 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 32 shares during the period. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Black Hills Corporation by 0.4% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,200 shares of the utilities provider’s stock valued at $612,000 after purchasing an additional 41 shares during the period. Finally, Meadow Creek Investment Management LLC raised its holdings in shares of Black Hills Corporation by 2.1% during the first quarter. Meadow Creek Investment Management LLC now owns 2,112 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 44 shares during the period. Hedge funds and other institutional investors own 93.83% of the company’s stock.

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

Shares of Black Hills Corporation (NYSE BKH) opened at 68.95 on Tuesday. The stock’s 50 day moving average is $69.94 and its 200 day moving average is $68.58. The company has a market capitalization of $3.69 billion, a P/E ratio of 28.79 and a beta of 0.80. Black Hills Corporation has a 52-week low of $54.76 and a 52-week high of $72.02.

Black Hills Corporation (NYSE:BKH) last posted 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 return on equity of 10.48% and a net margin of 7.71%. The business had revenue of $348.00 million during the quarter, compared to analyst estimates of $356.85 million. During the same quarter in the prior year, the company earned $0.39 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Equities analysts expect that Black Hills Corporation will post $3.58 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.58%. Black Hills Corporation’s dividend payout ratio is presently 74.79%.

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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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