Verition Fund Management LLC Raises Stake in Black Hills Corporation $BKH

Verition Fund Management LLC boosted its holdings in shares of Black Hills Corporation (NYSE:BKH) by 113.8% in the fourth quarter, HoldingsChannel reports. The fund owned 251,435 shares of the utilities provider’s stock after acquiring an additional 133,832 shares during the period. Verition Fund Management LLC’s holdings in Black Hills were worth $17,455,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Greenland Capital Management LP lifted its position in Black Hills by 140.6% during the 3rd quarter. Greenland Capital Management LP now owns 29,573 shares of the utilities provider’s stock valued at $1,821,000 after acquiring an additional 17,280 shares during the period. JPMorgan Chase & Co. raised its holdings in Black Hills by 67.7% in the third quarter. JPMorgan Chase & Co. now owns 618,131 shares of the utilities provider’s stock worth $38,071,000 after buying an additional 249,640 shares during the last quarter. Capital Research Global Investors raised its holdings in Black Hills by 38.7% in the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after buying an additional 634,800 shares during the last quarter. Barnett & Company Inc. raised its holdings in Black Hills by 105.8% in the third quarter. Barnett & Company Inc. now owns 28,400 shares of the utilities provider’s stock worth $1,749,000 after buying an additional 14,600 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in Black Hills by 74.3% in the fourth quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider’s stock worth $2,397,000 after buying an additional 14,716 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.1%

BKH opened at $73.55 on Tuesday. 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 firm has a 50 day moving average price of $73.61 and a 200-day moving average price of $72.28. Black Hills Corporation has a twelve month low of $55.49 and a twelve month high of $78.69. The stock has a market capitalization of $5.60 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.91 and a beta of 0.72.

Black Hills (NYSE:BKH) last released its quarterly earnings data 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). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The company had revenue of $780.70 million for the quarter, compared to analysts’ expectations of $769.19 million. During the same period in the previous year, the firm earned $1.87 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Black Hills’s payout ratio is presently 73.18%.

Insider Buying and Selling at Black Hills

In other news, Director Robert P. Otto sold 4,109 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company’s stock, valued at $807,958.92. The trade was a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on BKH shares. Weiss Ratings cut shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. LADENBURG THALM/SH SH started coverage on shares of Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 target price for the company. Bank of America raised shares of Black Hills from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $78.00 in a report on Thursday, June 11th. Siebert Williams Shank raised shares of Black Hills from a “hold” rating to a “buy” rating and lifted their target price for the stock from $79.00 to $82.00 in a report on Thursday, March 12th. Finally, BMO Capital Markets lifted their target price on shares of Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $81.17.

Black Hills Company 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.