Black Hills (NYSE:BKH) Issues Earnings Results, Beats Estimates By $0.13 EPS

Black Hills (NYSE:BKH) released its quarterly earnings results on Wednesday. The utilities provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.13, FiscalAI reports. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.During the same quarter in the previous year, the firm posted $0.38 earnings per share. Black Hills’s revenue for the quarter was up 3.1% on a year-over-year basis. Black Hills updated its FY 2026 guidance to 4.250-4.450 EPS.

Black Hills Trading Down 1.0%

Shares of BKH traded down $0.69 during mid-day trading on Wednesday, reaching $71.55. 774,963 shares of the company’s stock traded hands, compared to its average volume of 968,945. 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 stock’s 50-day moving average is $73.38 and its two-hundred day moving average is $73.12. Black Hills has a 12 month low of $58.06 and a 12 month high of $78.69. The stock has a market cap of $5.45 billion, a P/E ratio of 18.63, a P/E/G ratio of 2.82 and a beta of 0.71.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.703 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.9%. Black Hills’s dividend payout ratio is currently 73.18%.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 10,886 shares of the company’s stock, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of Black Hills

A number of hedge funds and other institutional investors have recently bought and sold shares of BKH. Zimmer Partners LP lifted its position in shares of Black Hills by 2,100.0% during 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 last quarter. Adage Capital Partners GP L.L.C. raised its position in Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock valued at $110,517,000 after purchasing an additional 1,017,000 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Black Hills by 10,853.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock worth $40,901,000 after buying an additional 658,017 shares during the period. AQR Capital Management LLC raised its holdings in shares of Black Hills by 52.8% in the third quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider’s stock valued at $84,628,000 after acquiring an additional 474,947 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Black Hills by 384.2% in the fourth quarter. Millennium Management LLC now owns 574,943 shares of the utilities provider’s stock worth $39,913,000 after acquiring an additional 456,193 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BKH. Oppenheimer set a $78.00 price objective on Black Hills in a report on Thursday, June 11th. Wall Street Zen lowered shares of Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. BMO Capital Markets reduced their price target on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Finally, Bank of America increased their price objective on shares of Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $81.67.

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.