Asset Planning Inc Acquires Shares of 1,410 Black Hills Corporation $BKH

Asset Planning Inc acquired a new stake in shares of Black Hills Corporation (NYSE:BKH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,410 shares of the utilities provider’s stock, valued at approximately $79,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in shares of Black Hills by 1.9% in the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider’s stock valued at $13,064,000 after buying an additional 4,077 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Black Hills by 15.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider’s stock valued at $480,000 after buying an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Black Hills by 215.5% in the first quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider’s stock valued at $100,000 after buying an additional 1,125 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock valued at $37,000 after buying an additional 225 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Black Hills in the first quarter valued at $808,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of NYSE:BKH opened at $60.39 on Friday. The stock has a market capitalization of $4.40 billion, a P/E ratio of 15.21, a P/E/G ratio of 2.80 and a beta of 0.73. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The business has a 50-day moving average price of $60.00 and a two-hundred day moving average price of $58.80.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $439.00 million during 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%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Equities analysts predict that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BKH shares. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and raised their target price for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Black Hills in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $66.00.

Black Hills Company Profile

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.