Hsbc Holdings PLC Acquires Shares of 34,238 Black Hills Corporation $BKH

Hsbc Holdings PLC acquired a new position in Black Hills Corporation (NYSE:BKH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,238 shares of the utilities provider’s stock, valued at approximately $2,562,000.

Several other large investors also recently made changes to their positions in the business. Clearstead Trust LLC bought a new position in shares of Black Hills in the second quarter valued at about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Black Hills during the 2nd quarter worth about $34,000. Advisory Services Network LLC bought a new stake in Black Hills during the 3rd quarter worth about $45,000. Global Retirement Partners LLC bought a new stake in Black Hills during the 2nd quarter worth about $56,000. Finally, Geneos Wealth Management Inc. increased its position in Black Hills by 44.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 317 shares in the last quarter. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

Shares of NYSE:BKH opened at $72.75 on Monday. The stock has a market capitalization of $5.55 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.88 and a beta of 0.71. Black Hills Corporation has a 1-year low of $58.06 and a 1-year high of $78.69. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $73.70 and a two-hundred day moving average price of $73.15.

Black Hills (NYSE:BKH) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The company had revenue of $452.80 million for the quarter, compared to analyst estimates of $490.89 million. During the same quarter last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts predict that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Dividend Announcement

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

Analyst Ratings Changes

BKH has been the subject of a number of research analyst reports. Bank of America boosted their target price 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. Wall Street Zen raised shares of Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Finally, BMO Capital Markets reduced their price objective on Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Black Hills has a consensus rating of “Buy” and an average price target of $81.67.

About Black Hills

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.