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With 86% Institutional Ownership, Black Hills Corporation (NYSE:BKH) Is a Favorite Amongst the Big Guns

With 86% Institutional Ownership, Black Hills Corporation (NYSE:BKH) Is a Favorite Amongst the Big Guns

黑山公司(纽约证券交易所代码:BKH)拥有86%的机构所有权,是大公司中的最爱
Simply Wall St ·  05/23 19:32

Key Insights

关键见解

  • Significantly high institutional ownership implies Black Hills' stock price is sensitive to their trading actions
  • The top 13 shareholders own 51% of the company
  • Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company
  • 高机构所有权意味着Black Hills的股价对其交易行为很敏感
  • 前 13 名股东拥有公司 51% 的股份
  • 使用分析师预测的数据以及所有权研究,可以更好地评估公司的未来表现

To get a sense of who is truly in control of Black Hills Corporation (NYSE:BKH), it is important to understand the ownership structure of the business. The group holding the most number of shares in the company, around 86% to be precise, is institutions. In other words, the group stands to gain the most (or lose the most) from their investment into the company.

要了解谁真正控制了黑山公司(纽约证券交易所代码:BKH),了解业务的所有权结构非常重要。持有该公司股份最多的集团是机构,准确地说约为86%。换句话说,该集团将从对公司的投资中获得最多(或损失最大)。

Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future.

鉴于其可支配的资金和研究能力巨大,机构所有权往往具有很大的份量,对于个人投资者而言尤其如此。因此,投资于公司的机构资金中有很大一部分通常是对公司未来的巨大信任票。

Let's take a closer look to see what the different types of shareholders can tell us about Black Hills.

让我们仔细看看不同类型的股东能告诉我们关于黑山的哪些信息。

ownership-breakdown
NYSE:BKH Ownership Breakdown May 23rd 2024
纽约证券交易所:BKH 所有权明细 2024 年 5 月 23 日

What Does The Institutional Ownership Tell Us About Black Hills?

关于黑山,机构所有权告诉我们什么?

Institutional investors commonly compare their own returns to the returns of a commonly followed index. So they generally do consider buying larger companies that are included in the relevant benchmark index.

机构投资者通常将自己的回报与常见指数的回报进行比较。因此,他们通常会考虑收购相关基准指数中包含的大型公司。

Black Hills already has institutions on the share registry. Indeed, they own a respectable stake in the company. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Black Hills' earnings history below. Of course, the future is what really matters.

黑山已经在股票登记处设立了机构。事实上,他们拥有该公司可观的股份。这可能表明该公司在投资界具有一定程度的信誉。但是,最好谨慎行事,不要依赖机构投资者所谓的验证。他们也是,有时候会弄错。如果多家机构同时改变对股票的看法,你可能会看到股价快速下跌。因此,值得在下面查看Black Hills的收益记录。当然,未来才是真正重要的。

earnings-and-revenue-growth
NYSE:BKH Earnings and Revenue Growth May 23rd 2024
纽约证券交易所:BKH收益和收入增长 2024年5月23日

Investors should note that institutions actually own more than half the company, so they can collectively wield significant power. Black Hills is not owned by hedge funds. Our data shows that BlackRock, Inc. is the largest shareholder with 15% of shares outstanding. With 12% and 5.6% of the shares outstanding respectively, The Vanguard Group, Inc. and State Street Global Advisors, Inc. are the second and third largest shareholders.

投资者应注意,机构实际上拥有公司一半以上的股份,因此它们可以共同行使巨大的权力。黑山不归对冲基金所有。我们的数据显示,贝莱德公司是最大股东,已发行股份的15%。Vanguard Group, Inc.和State Street Global Advisors, Inc.分别拥有12%和5.6%的已发行股份,是第二和第三大股东。

Looking at the shareholder registry, we can see that 51% of the ownership is controlled by the top 13 shareholders, meaning that no single shareholder has a majority interest in the ownership.

从股东登记册来看,我们可以看到,51%的所有权由前13名股东控制,这意味着没有一个股东拥有所有权的多数股东。

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

虽然研究公司的机构所有权可以为您的研究增加价值,但研究分析师的建议以更深入地了解股票的预期表现也是一种好做法。有不少分析师报道了该股,因此你可以很容易地研究预测的增长。

Insider Ownership Of Black Hills

黑山的内部所有权

The definition of an insider can differ slightly between different countries, but members of the board of directors always count. The company management answer to the board and the latter should represent the interests of shareholders. Notably, sometimes top-level managers are on the board themselves.

不同国家对内部人士的定义可能略有不同,但董事会成员总是计算在内。公司管理层对董事会的回答,董事会应代表股东的利益。值得注意的是,有时高层管理人员自己也在董事会中。

Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group.

大多数人认为内部所有权是积极的,因为这可能表明董事会与其他股东关系良好。但是,在某些情况下,过多的权力集中在该群体中。

Our information suggests that Black Hills Corporation insiders own under 1% of the company. It is a pretty big company, so it would be possible for board members to own a meaningful interest in the company, without owning much of a proportional interest. In this case, they own around US$21m worth of shares (at current prices). It is good to see board members owning shares, but it might be worth checking if those insiders have been buying.

我们的信息表明,黑山公司内部人士拥有该公司不到1%的股份。这是一家相当大的公司,因此董事会成员有可能在不拥有太多比例权益的情况下拥有该公司的有意义的权益。在这种情况下,他们拥有价值约2100万美元的股票(按当前价格计算)。很高兴看到董事会成员拥有股票,但可能值得检查一下这些内部人士是否在买入。

General Public Ownership

一般公有制

The general public-- including retail investors -- own 13% stake in the company, and hence can't easily be ignored. While this size of ownership may not be enough to sway a policy decision in their favour, they can still make a collective impact on company policies.

包括散户投资者在内的公众拥有该公司13%的股份,因此不容忽视。尽管这种所有权规模可能不足以影响对他们有利的政策决定,但它们仍然可以对公司政策产生集体影响。

Next Steps:

后续步骤:

While it is well worth considering the different groups that own a company, there are other factors that are even more important. Take risks for example - Black Hills has 2 warning signs (and 1 which is concerning) we think you should know about.

尽管值得考虑拥有公司的不同群体,但还有其他因素更为重要。以风险为例-Black Hills 有 2 个警告标志(其中 1 个令人担忧),我们认为你应该知道。

But ultimately it is the future, not the past, that will determine how well the owners of this business will do. Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.

但归根结底,决定这家企业所有者的表现的是未来,而不是过去。因此,我们认为最好看一下这份免费报告,该报告显示了分析师是否预测了更光明的未来。

NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures.

注意:本文中的数字是使用过去十二个月的数据计算得出的,这些数据是指截至财务报表日期当月最后一天的12个月期间。这可能与全年年度报告数据不一致。

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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Simply Wall St的这篇文章本质上是笼统的。我们仅使用公正的方法根据历史数据和分析师的预测提供评论,我们的文章无意作为财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不考虑最新的价格敏感型公司公告或定性材料。简而言之,华尔街没有持有任何上述股票的头寸。

译文内容由第三方软件翻译。


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