International Assets Investment Management LLC Purchases 190,000 Shares of Black Hills Corporation $BKH

International Assets Investment Management LLC increased its position in Black Hills Corporation (NYSE:BKH) by 625.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,354 shares of the utilities provider’s stock after buying an additional 190,000 shares during the quarter. Black Hills accounts for 0.6% of International Assets Investment Management LLC’s portfolio, making the stock its 23rd largest position. International Assets Investment Management LLC’s holdings in Black Hills were worth $12,362,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BKH. Principal Financial Group Inc. grew its holdings in shares of Black Hills by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider’s stock valued at $13,064,000 after purchasing an additional 4,077 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Black Hills by 15.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider’s stock valued at $480,000 after purchasing an additional 1,087 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Black Hills by 215.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider’s stock valued at $100,000 after purchasing an additional 1,125 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in shares of Black Hills during the 1st quarter valued at $808,000. Institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on BKH shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Hills in a report on Wednesday, October 8th. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $57.00 to $64.00 in a 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.00.

Black Hills Trading Up 1.1%

Shares of BKH opened at $63.06 on Friday. The firm’s 50-day moving average price is $60.20 and its 200-day moving average price is $58.84. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 2.92 and a beta of 0.73. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.38. The firm had revenue of $439.00 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Sell-side analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.676 per share. 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 4.3%. Black Hills’s payout ratio 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.