Thrivent Financial for Lutherans cut its holdings in shares of Black Hills Corporation (NYSE:BKH – Free Report) by 16.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 94,464 shares of the utilities provider’s stock after selling 19,033 shares during the period. Thrivent Financial for Lutherans’ holdings in Black Hills were worth $6,558,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in shares of Black Hills by 132.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 328 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Black Hills during the 3rd quarter valued at about $45,000. Clearstead Advisors LLC grew its position in shares of Black Hills by 884.8% during the 3rd quarter. Clearstead Advisors LLC now owns 778 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 699 shares during the period. First Horizon Corp grew its position in shares of Black Hills by 192.8% during the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 509 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Black Hills by 44.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 317 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on BKH shares. LADENBURG THALM/SH SH started coverage on Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price objective on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Black Hills in a report on Friday, March 27th. BMO Capital Markets lifted their price objective on Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Wall Street Zen cut Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Bank of America lifted their price objective on Black Hills from $72.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.
Black Hills Trading Up 0.7%
Shares of Black Hills stock opened at $73.82 on Thursday. The stock has a market cap of $5.62 billion, a P/E ratio of 19.22, a P/E/G ratio of 2.90 and a beta of 0.74. The stock’s 50 day simple moving average is $72.65 and its 200-day simple moving average is $71.82. Black Hills Corporation has a 1-year low of $55.49 and a 1-year high of $78.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53.
Black Hills (NYSE:BKH – Get Free Report) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company had revenue of $780.70 million for the quarter, compared to analyst estimates of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts predict that Black Hills Corporation will post 4.34 EPS for the current fiscal year.
Black Hills Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, May 15th. Black Hills’s payout ratio is currently 73.18%.
Black Hills Profile
Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.
In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.
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