TIAA CREF Investment Management LLC Sells 8,239 Shares of Black Hills Co. (BKH)

TIAA CREF Investment Management LLC trimmed its holdings in Black Hills Co. (NYSE:BKH) by 5.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 131,401 shares of the utilities provider’s stock after selling 8,239 shares during the quarter. TIAA CREF Investment Management LLC’s holdings in Black Hills were worth $7,899,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Black Hills by 48.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,890 shares of the utilities provider’s stock valued at $174,000 after buying an additional 940 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Black Hills by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 96,173 shares of the utilities provider’s stock valued at $5,781,000 after buying an additional 1,305 shares during the last quarter. ING Groep NV increased its position in Black Hills by 23.2% during the fourth quarter. ING Groep NV now owns 8,070 shares of the utilities provider’s stock worth $485,000 after purchasing an additional 1,521 shares during the last quarter. Ffcm LLC increased its position in Black Hills by 1,201.5% during the fourth quarter. Ffcm LLC now owns 1,770 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 1,634 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its position in Black Hills by 0.4% during the third quarter. Neuberger Berman Group LLC now owns 385,192 shares of the utilities provider’s stock worth $26,528,000 after purchasing an additional 1,680 shares during the last quarter. Institutional investors and hedge funds own 98.15% of the company’s stock.

Black Hills stock opened at $53.44 on Thursday. Black Hills Co. has a 12-month low of $50.49 and a 12-month high of $72.02. The stock has a market cap of $2,863.57, a P/E ratio of 16.21, a PEG ratio of 3.39 and a beta of 0.52. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 1.71.



Black Hills (NYSE:BKH) last announced its earnings results on Thursday, February 1st. The utilities provider reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.09). The company had revenue of $455.30 million for the quarter, compared to analysts’ expectations of $504.05 million. Black Hills had a return on equity of 10.10% and a net margin of 10.83%. equities research analysts predict that Black Hills Co. will post 3.41 earnings per share for the current year.

Several equities research analysts recently issued reports on BKH shares. Credit Suisse Group cut shares of Black Hills from an “outperform” rating to a “neutral” rating and set a $66.00 price objective for the company. in a research report on Tuesday, January 9th. JPMorgan Chase cut shares of Black Hills from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, Williams Capital upgraded shares of Black Hills from a “hold” rating to a “buy” rating and cut their price objective for the stock from $70.00 to $62.00 in a research report on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $64.13.

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About Black Hills

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

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