Black Hills Corporation $BKH Stock: ProShare Advisors LLC Lowers Position

ProShare Advisors LLC lowered its position in shares of Black Hills Corporation (NYSE:BKH) by 19.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,589 shares of the utilities provider’s stock after selling 89,584 shares during the period. ProShare Advisors LLC’s holdings in Black Hills were worth $26,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Black Hills during the 2nd quarter valued at about $928,675,000. Engineers Gate Manager LP raised its holdings in shares of Black Hills by 35.7% during 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 buying an additional 379,211 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Black Hills by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,141,272 shares of the utilities provider’s stock valued at $79,215,000 after buying an additional 18,109 shares in the last quarter. Bank of America Corp DE lifted its position in Black Hills by 109.2% in the 1st quarter. Bank of America Corp DE now owns 899,963 shares of the utilities provider’s stock worth $62,466,000 after buying an additional 469,733 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in Black Hills in the 2nd quarter worth approximately $3,691,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.7%

NYSE BKH opened at $82.58 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.52 and a quick ratio of 0.41. The stock has a market capitalization of $6.30 billion, a PE ratio of 20.85, a PEG ratio of 3.15 and a beta of 0.71. Black Hills Corporation has a 1 year low of $62.26 and a 1 year high of $82.95. The business’s 50-day moving average is $74.21 and its 200 day moving average is $73.39.

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

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a $0.7030 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, November 17th. Black Hills’s dividend payout ratio (DPR) is currently 70.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BKH shares. Jefferies Financial Group initiated coverage on shares of Black Hills in a report on Wednesday, October 14th. They issued a “buy” rating and a $87.00 price objective for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Black Hills in a research note on Thursday, October 22nd. Freedom Broker raised Black Hills from a “hold” rating to a “buy” rating and raised their price objective for the company from $69.00 to $78.00 in a research note on Wednesday, October 7th. Wall Street Zen upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, BMO Capital Markets lifted their price objective on Black Hills from $83.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $83.25.

Black Hills Profile

Black Hills Corporation (NYSE:BKH) is an energy company headquartered in Rapid City, South Dakota. Through its Black Hills Energy businesses, the company provides regulated electric and natural gas utility services to residential, commercial and industrial customers.

Black Hills operates electric utilities and natural gas distribution systems across parts of Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Its activities include generating and purchasing electricity, transmitting and distributing power, distributing natural gas, and developing and maintaining the infrastructure needed to serve its utility customers.

The company traces its history to the Black Hills region and has expanded through the development and acquisition of utility operations in the central and western United States.