Man Group plc Buys New Shares in Black Hills Corporation $BKH

Man Group plc purchased a new stake in Black Hills Corporation (NYSE:BKH – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,967 shares of the utilities provider’s stock, valued at approximately $1,262,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new stake in Black Hills during the second quarter worth about $29,413,000. BlackRock Inc. acquired a new position in Black Hills in the 2nd quarter valued at approximately $928,675,000. Capital Research Global Investors raised its holdings in Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after acquiring an additional 634,800 shares in the last quarter. Horizon Investments LLC raised its holdings in Black Hills by 74.3% in the 4th quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider’s stock valued at $2,397,000 after acquiring an additional 14,716 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Black Hills by 6,416.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,752 shares of the utilities provider’s stock worth $10,812,000 after acquiring an additional 153,362 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

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Black Hills Price Performance

Shares of BKH stock opened at $72.62 on Thursday. The stock’s fifty day moving average is $73.61 and its 200-day moving average is $73.14. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. The stock has a market capitalization of $5.54 billion, a PE ratio of 18.34, a PEG ratio of 2.86 and a beta of 0.71. Black Hills Corporation has a 52 week low of $58.06 and a 52 week high of $78.69.

Black Hills (NYSE:BKH – Get Free Report) last released its quarterly 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 business had revenue of $452.80 million during the quarter, compared to analysts’ expectations of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts expect that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.703 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.9%. Black Hills’s payout ratio is currently 70.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BKH shares. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Bank of America lifted their price target on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Oppenheimer set a $78.00 price target on shares of Black Hills in a report on Thursday, June 11th. Finally, BMO Capital Markets dropped their price objective on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a research note on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, According to MarketBeat, Black Hills presently has a consensus rating of “Buy” and an average price target of $81.67.

Read Our Latest Analysis on BKH

About Black Hills

(Free Report)

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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