Commerce Bank acquired a new position in shares of Black Hills Corp (NYSE:BKH) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,575 shares of the utilities provider’s stock, valued at approximately $265,000.
Other large investors also recently modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of Black Hills by 119.9% during the third quarter. IFP Advisors Inc now owns 2,412 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 1,315 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Black Hills in the 2nd quarter valued at $164,000. Cim Investment Mangement Inc. acquired a new stake in Black Hills in the 2nd quarter valued at $205,000. Zeke Capital Advisors LLC acquired a new stake in Black Hills in the 2nd quarter valued at $205,000. Finally, Broderick Brian C acquired a new stake in Black Hills in the 2nd quarter valued at $213,000. Institutional investors and hedge funds own 99.61% of the company’s stock.
Several equities research analysts have issued reports on BKH shares. Howard Weil started coverage on shares of Black Hills in a research note on Tuesday, July 24th. They issued a “sector perform” rating and a $58.00 price target on the stock. ValuEngine lowered shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Credit Suisse Group lifted their price target on shares of Black Hills from $61.00 to $62.00 and gave the company a “neutral” rating in a research note on Wednesday, August 8th. Wells Fargo & Co lifted their price target on shares of Black Hills from $62.00 to $64.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Finally, Zacks Investment Research upgraded shares of Black Hills from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $61.57.
Black Hills (NYSE:BKH) last issued its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.08). Black Hills had a net margin of 13.44% and a return on equity of 9.98%. The business had revenue of $322.00 million during the quarter, compared to analyst estimates of $357.72 million. During the same quarter in the previous year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Research analysts expect that Black Hills Corp will post 3.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Monday, November 19th will be paid a $0.505 dividend. This is a positive change from Black Hills’s previous quarterly dividend of $0.48. This represents a $2.02 annualized dividend and a yield of 3.19%. The ex-dividend date is Friday, November 16th. Black Hills’s payout ratio is presently 56.55%.
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Black Hills Profile
Black Hills Corporation, through its subsidiaries, operates as a vertically-integrated utility company in the United States. The company's Electric Utilities segment generates, transmits, and distributes electricity to approximately 210,000 electric customers in South Dakota, Wyoming, Colorado, and Montana.
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