Black Hills Corporation (BKH) to Issue Quarterly Dividend of $0.70 on September 1st

Black Hills Corporation (NYSE:BKH) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Monday, August 17th will be given a dividend of 0.703 per share by the utilities provider on Tuesday, September 1st. This represents a c) annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 17th.

Black Hills has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 55 consecutive years. Black Hills has a payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Black Hills to earn $4.59 per share next year, which means the company should continue to be able to cover its $2.81 annual dividend with an expected future payout ratio of 61.2%.

Black Hills Stock Performance

NYSE:BKH opened at $74.34 on Friday. The stock has a market capitalization of $5.67 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 2.93 and a beta of 0.71. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99. Black Hills has a 1 year low of $58.06 and a 1 year high of $78.69. The firm has a 50 day moving average of $73.55 and a 200-day moving average of $73.15.

Black Hills (NYSE:BKH) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.The business had revenue of $452.80 million for the quarter, compared to analyst estimates of $490.89 million. During the same period in the prior year, the company earned $0.38 EPS. Black Hills’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. As a group, sell-side analysts anticipate that Black Hills will post 4.34 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the transaction, the director owned 10,886 shares of the company’s stock, valued at approximately $807,958.92. This represents a 27.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Institutional Investors Weigh In On Black Hills

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Black Hills during the second quarter valued at $928,675,000. Zimmer Partners LP increased its position in Black Hills by 2,100.0% in the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock worth $67,750,000 after purchasing an additional 1,050,020 shares during the period. Adage Capital Partners GP L.L.C. increased its position in 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 purchasing an additional 1,017,000 shares during the period. Engineers Gate Manager LP increased its position in Black Hills by 17,790.3% in the fourth quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider’s stock worth $58,943,000 after purchasing an additional 844,327 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Black Hills during the 2nd quarter worth about $56,841,000. 86.71% of the stock is owned by institutional investors and hedge funds.

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.