Lesa Sroufe & Co Boosts Holdings in Black Hills Corporation $BKH

Lesa Sroufe & Co increased its holdings in Black Hills Corporation (NYSE:BKH) by 4.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 45,617 shares of the utilities provider’s stock after acquiring an additional 1,788 shares during the quarter. Black Hills accounts for 2.4% of Lesa Sroufe & Co’s portfolio, making the stock its 15th largest position. Lesa Sroufe & Co’s holdings in Black Hills were worth $2,559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BKH. Vanguard Group Inc. raised its stake in Black Hills by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 8,634,076 shares of the utilities provider’s stock worth $523,657,000 after acquiring an additional 31,853 shares during the period. AQR Capital Management LLC raised its stake in Black Hills by 1.7% during the 1st quarter. AQR Capital Management LLC now owns 888,412 shares of the utilities provider’s stock worth $53,829,000 after acquiring an additional 14,437 shares during the period. Nuveen LLC bought a new stake in Black Hills during the 1st quarter worth approximately $43,690,000. Victory Capital Management Inc. raised its stake in Black Hills by 18.2% during the 1st quarter. Victory Capital Management Inc. now owns 652,003 shares of the utilities provider’s stock worth $39,544,000 after acquiring an additional 100,421 shares during the period. Finally, Millennium Management LLC raised its stake in Black Hills by 25.1% during the 1st quarter. Millennium Management LLC now owns 579,797 shares of the utilities provider’s stock worth $35,165,000 after acquiring an additional 116,338 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their target price for the stock 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, October 8th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $66.00.

Black Hills Trading Up 1.6%

Black Hills stock opened at $62.02 on Thursday. The stock has a market cap of $4.52 billion, a P/E ratio of 15.62, a PEG ratio of 2.83 and a beta of 0.73. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. Black Hills Corporation has a 1 year low of $54.92 and a 1 year high of $65.59. The firm’s 50 day moving average price is $60.11 and its 200-day moving average price is $58.83.

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 the consensus estimate of $0.38. The firm had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last 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 predict that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business 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 annualized dividend and a dividend yield of 4.4%. Black Hills’s dividend payout ratio (DPR) is presently 68.01%.

Black Hills 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.