Schwab Charles Investment Management Inc. Has $24.71 Million Position in Black Hills Corp (BKH)
Schwab Charles Investment Management Inc. increased its position in Black Hills Corp (NYSE:BKH) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 358,803 shares of the utilities provider’s stock after acquiring an additional 20,335 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.67% of Black Hills worth $24,711,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its holdings in Black Hills by 0.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 24,333 shares of the utilities provider’s stock worth $1,642,000 after acquiring an additional 67 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Black Hills by 2.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,232 shares of the utilities provider’s stock worth $218,000 after acquiring an additional 81 shares in the last quarter. World Asset Management Inc increased its holdings in Black Hills by 2.7% in the 2nd quarter. World Asset Management Inc now owns 3,375 shares of the utilities provider’s stock worth $228,000 after acquiring an additional 90 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in Black Hills by 0.4% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 26,600 shares of the utilities provider’s stock valued at $1,795,000 after buying an additional 100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Black Hills by 8.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,950 shares of the utilities provider’s stock valued at $132,000 after buying an additional 146 shares in the last quarter. 95.41% of the stock is owned by institutional investors.
Black Hills Corp (NYSE BKH) opened at $59.47 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $3,218.70, a P/E ratio of 17.75, a PEG ratio of 3.23 and a beta of 0.73. Black Hills Corp has a 52-week low of $57.01 and a 52-week high of $72.02.
Black Hills (NYSE:BKH) last posted its earnings results on Thursday, November 2nd. The utilities provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The firm had revenue of $342.10 million for the quarter, compared to the consensus estimate of $369.84 million. Black Hills had a net margin of 8.47% and a return on equity of 10.47%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. sell-side analysts predict that Black Hills Corp will post 3.35 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a dividend of $0.475 per share. This is an increase from Black Hills’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, November 16th. Black Hills’s dividend payout ratio is currently 72.52%.
A number of equities research analysts have issued reports on BKH shares. Williams Capital lowered shares of Black Hills from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $70.00 in a report on Friday, October 6th. Credit Suisse Group reaffirmed an “outperform” rating and set a $66.00 price objective (down from $77.00) on shares of Black Hills in a report on Monday, November 6th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Black Hills from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Bank of America started coverage on shares of Black Hills in a report on Tuesday, October 24th. They set an “underperform” rating and a $66.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective on shares of Black Hills from $72.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, November 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $68.13.
Black Hills 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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