First PREMIER Bank lifted its holdings in shares of Black Hills Corp (NYSE:BKH) by 2.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,765 shares of the utilities provider’s stock after acquiring an additional 565 shares during the period. Black Hills makes up 1.1% of First PREMIER Bank’s holdings, making the stock its 29th biggest holding. First PREMIER Bank’s holdings in Black Hills were worth $2,207,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Hanseatic Management Services Inc. increased its position in shares of Black Hills by 6.2% during the second quarter. Hanseatic Management Services Inc. now owns 2,248 shares of the utilities provider’s stock worth $176,000 after acquiring an additional 131 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Black Hills by 1.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,980 shares of the utilities provider’s stock worth $780,000 after purchasing an additional 140 shares during the last quarter. Tdam USA Inc. boosted its holdings in Black Hills by 2.1% during the second quarter. Tdam USA Inc. now owns 6,730 shares of the utilities provider’s stock worth $526,000 after purchasing an additional 140 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Black Hills by 2.0% during the second quarter. State of Alaska Department of Revenue now owns 7,472 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 144 shares during the last quarter. Finally, Murphy Capital Management Inc. boosted its holdings in Black Hills by 3.9% during the second quarter. Murphy Capital Management Inc. now owns 5,320 shares of the utilities provider’s stock worth $415,000 after purchasing an additional 200 shares during the last quarter. 88.18% of the stock is owned by institutional investors.
Several research analysts recently weighed in on BKH shares. ValuEngine cut shares of Black Hills from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Credit Suisse Group cut their price target on shares of Black Hills from $79.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Bank of America upgraded shares of Black Hills from a “neutral” rating to a “buy” rating in a report on Thursday. Finally, Zacks Investment Research cut shares of Black Hills from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $74.40.
BKH traded up $1.58 during midday trading on Thursday, reaching $77.54. The company had a trading volume of 26,790 shares, compared to its average volume of 403,634. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.55 and a current ratio of 0.76. The stock has a market cap of $4.68 billion, a PE ratio of 21.89, a P/E/G ratio of 5.35 and a beta of 0.26. Black Hills Corp has a 12-month low of $59.07 and a 12-month high of $82.01. The business has a 50-day moving average price of $76.65 and a two-hundred day moving average price of $76.45.
Black Hills (NYSE:BKH) last released its earnings results on Monday, August 5th. The utilities provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.21). The company had revenue of $333.90 million during the quarter, compared to analysts’ expectations of $399.87 million. Black Hills had a net margin of 12.65% and a return on equity of 8.99%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, research analysts anticipate that Black Hills Corp will post 3.44 earnings per share for the current year.
In other Black Hills news, CFO Richard Kinzley sold 5,416 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $77.89, for a total value of $421,852.24. Following the transaction, the chief financial officer now directly owns 38,299 shares in the company, valued at $2,983,109.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David R. Emery sold 7,500 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $78.14, for a total transaction of $586,050.00. Following the completion of the transaction, the insider now owns 167,806 shares in the company, valued at $13,112,360.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,916 shares of company stock worth $2,166,202. Corporate insiders own 1.00% of the company’s stock.
About Black Hills
Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. It operates through Electric Utilities, Gas Utilities, Power Generation, and Mining segments. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 212,000 electric customers in Colorado, Montana, South Dakota, and Wyoming, as well as provides electrical system construction services to large industrial customers.
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