ProShare Advisors LLC lowered its position in Black Hills Corporation (NYSE:BKH – Free Report) by 18.1% in the fourth quarter, HoldingsChannel reports. The fund owned 603,142 shares of the utilities provider’s stock after selling 132,872 shares during the quarter. ProShare Advisors LLC’s holdings in Black Hills were worth $41,870,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BKH. Smartleaf Asset Management LLC raised its position in shares of Black Hills by 132.3% in the third quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 328 shares during the period. Advisory Services Network LLC acquired a new position in shares of Black Hills in the third quarter worth about $45,000. Clearstead Advisors LLC raised its position in shares of Black Hills by 884.8% in the third quarter. Clearstead Advisors LLC now owns 778 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 699 shares during the period. First Horizon Corp raised its position in shares of Black Hills by 192.8% in the fourth quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock worth $54,000 after acquiring an additional 509 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Black Hills by 44.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 317 shares during the period. Institutional investors and hedge funds own 86.71% of the company’s stock.
Wall Street Analysts Forecast Growth
BKH has been the subject of several research analyst reports. Siebert Williams Shank raised Black Hills from a “hold” rating to a “buy” rating and upped their target price for the stock from $79.00 to $82.00 in a research note on Thursday, March 12th. LADENBURG THALM/SH SH initiated coverage on Black Hills in a research note on Wednesday, April 1st. They set a “buy” rating and a $77.00 target price for the company. Bank of America upped their target price on Black Hills from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.40.
Black Hills Stock Down 0.9%
BKH opened at $73.35 on Wednesday. Black Hills Corporation has a twelve month low of $55.49 and a twelve month high of $78.69. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $72.63 and a 200 day moving average price of $71.75. The company has a market cap of $5.58 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.93 and a beta of 0.74.
Black Hills (NYSE:BKH – Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The firm had revenue of $780.70 million during the quarter, compared to analyst estimates of $769.19 million. During the same period in the prior year, the company posted $1.87 earnings per share. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts expect that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.
Black Hills Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a $0.703 dividend. This represents a $2.81 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, May 15th. Black Hills’s dividend payout ratio is currently 73.18%.
About Black Hills
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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