78,135 Shares in Black Hills Corporation $BKH Acquired by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. bought a new position in Black Hills Corporation (NYSE:BKH) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 78,135 shares of the utilities provider’s stock, valued at approximately $4,383,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Inspire Investing LLC lifted its holdings in Black Hills by 19.9% in the 2nd quarter. Inspire Investing LLC now owns 6,997 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 1,162 shares during the last quarter. IFP Advisors Inc lifted its holdings in Black Hills by 19.2% in the 2nd quarter. IFP Advisors Inc now owns 6,951 shares of the utilities provider’s stock worth $390,000 after purchasing an additional 1,118 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in Black Hills in the 2nd quarter worth approximately $13,464,000. Clear Creek Financial Management LLC lifted its holdings in Black Hills by 27.9% in the 2nd quarter. Clear Creek Financial Management LLC now owns 6,049 shares of the utilities provider’s stock worth $339,000 after purchasing an additional 1,319 shares during the last quarter. Finally, 111 Capital lifted its holdings in Black Hills by 86.3% in the 2nd quarter. 111 Capital now owns 9,496 shares of the utilities provider’s stock worth $533,000 after purchasing an additional 4,400 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Black Hills in a report on Wednesday. Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Black Hills currently has an average rating of “Hold” and a consensus target price of $66.00.

Black Hills Stock Performance

Shares of NYSE BKH opened at $60.39 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The business’s 50 day moving average is $60.00 and its two-hundred day moving average is $58.80. The company has a market cap of $4.40 billion, a P/E ratio of 15.21, a P/E/G ratio of 2.83 and a beta of 0.73. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38. The business had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.Black Hills’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, equities analysts expect that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.676 per share. The ex-dividend date was Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.5%. Black Hills’s payout ratio is currently 68.01%.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.