Price T Rowe Associates Inc. MD Has $1.69 Million Position in Black Hills Corp (NYSE:BKH)

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Price T Rowe Associates Inc. MD raised its position in Black Hills Corp (NYSE:BKH) by 1.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 21,672 shares of the utilities provider’s stock after purchasing an additional 263 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Black Hills were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKH. First Trust Advisors LP grew its holdings in Black Hills by 21.4% in the 1st quarter. First Trust Advisors LP now owns 488,403 shares of the utilities provider’s stock valued at $36,176,000 after buying an additional 85,946 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Black Hills by 7.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 22,152 shares of the utilities provider’s stock worth $1,641,000 after purchasing an additional 1,572 shares in the last quarter. Swiss National Bank grew its holdings in shares of Black Hills by 15.4% during the 1st quarter. Swiss National Bank now owns 109,379 shares of the utilities provider’s stock worth $8,102,000 after purchasing an additional 14,600 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Black Hills by 2.0% during the 1st quarter. Northern Trust Corp now owns 1,192,388 shares of the utilities provider’s stock worth $88,320,000 after purchasing an additional 23,912 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Black Hills during the 1st quarter worth $1,011,000. 88.18% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BKH stock opened at $78.13 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.76 and a debt-to-equity ratio of 1.26. Black Hills Corp has a twelve month low of $59.07 and a twelve month high of $82.01. The company has a market cap of $4.64 billion, a P/E ratio of 22.08, a P/E/G ratio of 5.31 and a beta of 0.26. The business has a fifty day simple moving average of $76.68 and a 200 day simple moving average of $76.50.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.21). Black Hills had a return on equity of 8.99% and a net margin of 12.65%. The business had revenue of $333.90 million for the quarter, compared to the consensus estimate of $399.87 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. Black Hills’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Black Hills Corp will post 3.44 earnings per share for the current fiscal year.

BKH has been the topic of several analyst reports. Credit Suisse Group reduced their target price on Black Hills from $79.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. ValuEngine lowered Black Hills from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research downgraded Black Hills from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Bank of America upgraded Black Hills from a “neutral” rating to a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Black Hills presently has an average rating of “Hold” and an average price target of $74.40.

In other Black Hills news, CFO Richard Kinzley sold 5,416 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $77.89, for a total value of $421,852.24. Following the completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David R. Emery sold 7,500 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $77.13, for a total value of $578,475.00. Following the completion of the transaction, the chairman now owns 160,306 shares of the company’s stock, valued at $12,364,401.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,916 shares of company stock valued at $2,166,202. 1.00% of the stock is owned by corporate insiders.

Black Hills Company Profile

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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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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