Burney Co. Decreases Holdings in Black Hills Corporation $BKH

Burney Co. trimmed its holdings in Black Hills Corporation (NYSE:BKH) by 30.3% in the first quarter, HoldingsChannel reports. The fund owned 56,944 shares of the utilities provider’s stock after selling 24,791 shares during the period. Burney Co.’s holdings in Black Hills were worth $3,952,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in BKH. State Street Corp raised its position in Black Hills by 0.8% in the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock worth $215,515,000 after purchasing an additional 31,093 shares during the period. Capital Research Global Investors grew its stake in shares of Black Hills by 38.7% during the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after buying an additional 634,800 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Black Hills by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock valued at $131,548,000 after buying an additional 55,232 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Black Hills by 176.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock worth $110,517,000 after buying an additional 1,017,000 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of Black Hills by 3.2% in the fourth quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock worth $98,464,000 after buying an additional 44,334 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Insider Buying and Selling

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares in the company, valued at approximately $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.56% of the company’s stock.

Black Hills Trading Up 1.6%

BKH opened at $73.32 on Wednesday. Black Hills Corporation has a one year low of $55.79 and a one year high of $78.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The business has a 50 day simple moving average of $73.49 and a two-hundred day simple moving average of $72.53. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.85 and a beta of 0.71.

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

Black Hills Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently weighed in on BKH. BMO Capital Markets increased their target price on Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. Oppenheimer set a $78.00 price target on Black Hills in a research note on Thursday, June 11th. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. Wall Street Zen lowered Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Bank of America upgraded shares of Black Hills from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $78.00 in a report on Thursday, June 11th. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $81.17.

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.