Capital Research Global Investors Buys 634,800 Shares of Black Hills Corporation $BKH

Capital Research Global Investors raised its stake in Black Hills Corporation (NYSE:BKH) by 38.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,275,922 shares of the utilities provider’s stock after acquiring an additional 634,800 shares during the period. Capital Research Global Investors’ holdings in Black Hills were worth $157,995,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Parallel Advisors LLC lifted its position in Black Hills by 96.4% in the fourth quarter. Parallel Advisors LLC now owns 2,316 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 1,137 shares during the last quarter. Vise Technologies Inc. lifted its position in Black Hills by 13.7% in the fourth quarter. Vise Technologies Inc. now owns 6,883 shares of the utilities provider’s stock valued at $478,000 after purchasing an additional 829 shares during the last quarter. Magellan Asset Management Ltd lifted its position in Black Hills by 7.1% in the fourth quarter. Magellan Asset Management Ltd now owns 51,532 shares of the utilities provider’s stock valued at $3,577,000 after purchasing an additional 3,434 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Black Hills in the fourth quarter valued at approximately $296,000. Finally, Goldman Sachs Group Inc. lifted its position in Black Hills by 3.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 967,603 shares of the utilities provider’s stock valued at $67,171,000 after purchasing an additional 30,213 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Siebert Williams Shank upgraded Black Hills from a “hold” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $82.00 in a research report on Thursday, March 12th. BMO Capital Markets boosted their price objective on Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, May 21st. Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Bank of America upped their target price on Black Hills from $72.00 to $76.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Black Hills currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

Insiders Place Their Bets

In related news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the sale, the director directly owned 10,886 shares of the company’s stock, valued at $807,958.92. This represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

Black Hills Price Performance

Shares of BKH stock opened at $72.29 on Tuesday. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.88 and a beta of 0.72. The business’s fifty day moving average is $73.40 and its 200 day moving average is $72.24. 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.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.Black Hills’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Research analysts expect that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.703 dividend. This represents a $2.81 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, May 15th. Black Hills’s dividend payout ratio is presently 73.18%.

Black Hills Profile

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.