757,990 Black Hills Corporation $BKH Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in Black Hills Corporation (NYSE:BKH) by 90.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,593,242 shares of the utilities provider’s stock after acquiring an additional 757,990 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Black Hills were worth $111,654,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in shares of Black Hills during the 2nd quarter worth $928,675,000. Engineers Gate Manager LP increased its holdings in shares of Black Hills by 35.7% in the 2nd quarter. Engineers Gate Manager LP now owns 1,442,064 shares of the utilities provider’s stock valued at $107,290,000 after purchasing an additional 379,211 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Black Hills by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,141,272 shares of the utilities provider’s stock valued at $79,215,000 after purchasing an additional 18,109 shares during the period. Bank of America Corp DE lifted its stake in shares of Black Hills by 109.2% in the first quarter. Bank of America Corp DE now owns 899,963 shares of the utilities provider’s stock valued at $62,466,000 after purchasing an additional 469,733 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Black Hills in the second quarter valued at about $56,841,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.2%

Black Hills stock opened at $85.02 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.34 and a current ratio of 0.47. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 3.36 and a beta of 0.64. Black Hills Corporation has a fifty-two week low of $67.25 and a fifty-two week high of $86.54. The stock’s fifty day moving average is $75.09 and its two-hundred day moving average is $73.62.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.10. The business had revenue of $466.10 million during the quarter, compared to analysts’ expectations of $483.04 million. Black Hills had a return on equity of 8.17% and a net margin of 13.49%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $0.45 earnings per share. Analysts predict that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be paid a $0.7030 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, November 17th. Black Hills’s dividend payout ratio is presently 67.55%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Black Hills in a report on Wednesday, October 14th. They set a “buy” rating and a $87.00 price objective on the stock. Bank of America increased their target price on shares of Black Hills from $87.00 to $97.00 and gave the company a “buy” rating in a report on Monday, September 21st. Freedom Broker downgraded shares of Black Hills from a “buy” rating to a “hold” rating and set a $78.00 price target for the company. in a research report on Thursday. Scotiabank lifted their price target on shares of Black Hills from $84.00 to $95.00 and gave the company a “sector outperform” rating in a research report on Friday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Black Hills in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $85.00.

Black Hills News Summary

Here are the key news stories impacting Black Hills this week:

• Positive Sentiment: Black Hills reported Q3 diluted EPS of $0.57, above the $0.47 analyst consensus, and revenue rose 8.3% year over year. The company also reaffirmed its 2026 adjusted earnings guidance, reducing uncertainty about its near-term outlook. Black Hills Q3 results and guidance
• Neutral Sentiment: Revenue of $466.1 million came in below analysts’ $483.0 million estimate, tempering the earnings beat. Q3 earnings results
• Negative Sentiment: Freedom Broker downgraded BKH from “buy” to “hold” and set a $78 price target, below the cited $85.02 share price. The downgrade could weigh on sentiment despite the quarterly EPS beat. Freedom Broker rating

About Black Hills

Black Hills Corporation is an energy company headquartered in Rapid City, South Dakota. Through its utility operations, it provides electric and natural gas service to communities across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.

The company’s businesses include generating, transmitting and distributing electricity, as well as distributing natural gas. Its energy operations use a mix of resources, including natural gas, coal and renewable sources, to support electric service.

Black Hills traces its history to the early 1940s, when it operated as Black Hills Power & Light Company.