SG Americas Securities LLC reduced its position in shares of Black Hills Corporation (NYSE:BKH) by 49.9% during the third quarter, Holdings Channel reports. The firm owned 8,465 shares of the company’s stock after selling 8,431 shares during the period. SG Americas Securities LLC’s holdings in Black Hills Corporation were worth $518,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of BKH. BlackRock Fund Advisors increased its position in Black Hills Corporation by 5.1% in the third quarter. BlackRock Fund Advisors now owns 5,293,831 shares of the company’s stock worth $324,088,000 after buying an additional 257,852 shares during the period. Vanguard Group Inc. increased its position in Black Hills Corporation by 5.5% in the second quarter. Vanguard Group Inc. now owns 4,048,978 shares of the company’s stock worth $255,248,000 after buying an additional 210,671 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Black Hills Corporation by 5.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,569,119 shares of the company’s stock worth $98,917,000 after buying an additional 82,510 shares during the period. Victory Capital Management Inc. increased its position in Black Hills Corporation by 15.0% in the third quarter. Victory Capital Management Inc. now owns 1,266,957 shares of the company’s stock worth $77,563,000 after buying an additional 165,182 shares during the period. Finally, Lord Abbett & CO. LLC increased its position in Black Hills Corporation by 17.2% in the second quarter. Lord Abbett & CO. LLC now owns 1,095,124 shares of the company’s stock worth $69,037,000 after buying an additional 160,380 shares during the period. 89.95% of the stock is currently owned by institutional investors.
Black Hills Corporation (NYSE:BKH) traded up 0.78% during trading on Wednesday, reaching $62.21. The company’s stock had a trading volume of 244,620 shares. The company has a market cap of $3.31 billion, a P/E ratio of 78.75 and a beta of 0.69. The stock’s 50-day moving average is $60.72 and its 200 day moving average is $60.33. Black Hills Corporation has a 12 month low of $44.65 and a 12 month high of $64.58.
Black Hills Corporation (NYSE:BKH) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. Black Hills Corporation had a net margin of 2.85% and a return on equity of 9.10%. The company had revenue of $333.80 million for the quarter, compared to analysts’ expectations of $414.77 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Black Hills Corporation’s revenue for the quarter was up 22.7% on a year-over-year basis. On average, equities analysts forecast that Black Hills Corporation will post $3.03 EPS for the current fiscal year.
Several analysts recently commented on BKH shares. Zacks Investment Research downgraded Black Hills Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, September 20th. Singular Research started coverage on Black Hills Corporation in a research note on Wednesday, December 14th. They set a “buy” rating and a $68.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $64.67.
Black Hills Corporation Company Profile
Black Hills Corporation is a holding company. The Company is an integrated energy company, which operates in the United States with two business groups: Utilities and Non-regulated Energy. Its Utilities Group consists of regulated Electric Utilities and regulated Gas Utilities segments, and the Company’s Non-regulated Energy Group consists of Power Generation, Coal Mining, and Oil and Gas segments.
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