Pictet Asset Management Holding SA Grows Holdings in Black Hills Corporation $BKH

Pictet Asset Management Holding SA raised its holdings in shares of Black Hills Corporation (NYSE:BKH) by 5,286.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 593,543 shares of the utilities provider’s stock after purchasing an additional 582,523 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Black Hills were worth $41,198,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System purchased a new stake in Black Hills in the 1st quarter valued at about $1,520,000. Miller Howard Investments Inc. NY raised its stake in shares of Black Hills by 7.5% during the first quarter. Miller Howard Investments Inc. NY now owns 16,516 shares of the utilities provider’s stock valued at $1,146,000 after acquiring an additional 1,159 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Black Hills by 1.3% during the first quarter. AdvisorNet Financial Inc now owns 20,211 shares of the utilities provider’s stock valued at $1,403,000 after acquiring an additional 256 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Black Hills by 315.4% in the first quarter. SG Americas Securities LLC now owns 29,220 shares of the utilities provider’s stock valued at $2,028,000 after purchasing an additional 22,185 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of Black Hills by 11.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 3,089 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 324 shares during the period. 86.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.

Black Hills Trading Down 1.2%

NYSE BKH opened at $74.36 on Wednesday. Black Hills Corporation has a 52 week low of $55.79 and a 52 week high of $78.69. The company has a 50 day moving average price of $73.57 and a 200 day moving average price of $72.46. 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 market cap of $5.66 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 2.98 and a beta of 0.72.

Black Hills (NYSE:BKH) last announced its 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). 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 quarter last year, the business earned $1.87 earnings per share. Black Hills’s revenue was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, sell-side analysts forecast that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on BKH. Oppenheimer set a $78.00 price target on Black Hills in a research report on Thursday, June 11th. LADENBURG THALM/SH SH began coverage on shares of Black Hills in a research note on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price objective for the company. Siebert Williams Shank upgraded shares of Black Hills from a “hold” rating to a “buy” rating and increased their target price for the stock from $79.00 to $82.00 in a report on Thursday, March 12th. Bank of America raised shares of Black Hills from a “neutral” rating to a “buy” rating and raised their target price for the company from $76.00 to $78.00 in a research report on Thursday, June 11th. Finally, BMO Capital Markets boosted their price target on shares of Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus 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.