Empowered Funds LLC lifted its position in Black Hills Corporation (NYSE:BKH – Free Report) by 43.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,929 shares of the utilities provider’s stock after acquiring an additional 7,580 shares during the period. Empowered Funds LLC’s holdings in Black Hills were worth $1,730,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the company. Advisory Services Network LLC purchased a new stake in shares of Black Hills in the 3rd quarter valued at approximately $45,000. First Horizon Corp grew its position in Black Hills by 192.8% during the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 509 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in 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 purchasing an additional 317 shares during the period. Smartleaf Asset Management LLC raised its stake in Black Hills by 47.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 274 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Black Hills in the first quarter valued at $67,000. Institutional investors and hedge funds own 86.71% of the company’s stock.
Insiders Place Their Bets
In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the transaction, the director directly owned 10,886 shares in the company, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by company insiders.
Black Hills Trading Up 1.4%
Black Hills (NYSE:BKH – Get Free Report) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million during the quarter, compared to analysts’ expectations of $490.89 million. Black Hills had a net margin of 13.01% and a return on equity of 8.03%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, research analysts forecast that Black Hills Corporation will post 4.34 EPS for the current fiscal year.
Black Hills Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, August 17th. Black Hills’s dividend payout ratio is presently 73.18%.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on BKH. BMO Capital Markets lowered their price target on Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings raised Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Wall Street Zen lowered Black Hills from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Oppenheimer set a $78.00 target price on Black Hills in a research note on Thursday, June 11th. Finally, Bank of America raised their price target on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Black Hills currently has a consensus rating of “Buy” and an average target price of $81.67.
Check Out Our Latest Stock Analysis on Black Hills
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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