Midwest Trust Co Makes New Investment in Black Hills Corporation $BKH

Midwest Trust Co acquired a new stake in shares of 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. The institutional investor acquired 54,172 shares of the utilities provider’s stock, valued at approximately $3,039,000. Midwest Trust Co owned about 0.07% of Black Hills as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BKH. Envestnet Asset Management Inc. grew its holdings in Black Hills by 9.4% during the first quarter. Envestnet Asset Management Inc. now owns 59,163 shares of the utilities provider’s stock valued at $3,588,000 after purchasing an additional 5,075 shares during the last quarter. Alps Advisors Inc. boosted its holdings in shares of Black Hills by 7.9% during the 1st quarter. Alps Advisors Inc. now owns 18,388 shares of the utilities provider’s stock worth $1,115,000 after buying an additional 1,342 shares during the period. Cerity Partners LLC grew its stake in Black Hills by 6.1% in the 1st quarter. Cerity Partners LLC now owns 40,241 shares of the utilities provider’s stock valued at $2,441,000 after buying an additional 2,313 shares during the last quarter. State of Michigan Retirement System raised its holdings in Black Hills by 1.2% in the 1st quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider’s stock worth $1,037,000 after acquiring an additional 200 shares during the period. Finally, Xponance Inc. raised its holdings in Black Hills by 1.9% in the 1st quarter. Xponance Inc. now owns 10,218 shares of the utilities provider’s stock worth $620,000 after acquiring an additional 188 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BKH has been the topic of several research analyst reports. Scotiabank raised Black Hills from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $66.00 to $81.00 in a research report on Friday. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and increased their target price for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Hills in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $71.00.

Black Hills Stock Up 2.0%

BKH stock opened at $71.10 on Tuesday. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $71.34. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The company has a market cap of $5.18 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 2.95 and a beta of 0.76. The business’s 50-day simple moving average is $61.85 and its 200 day simple moving average is $59.57.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, November 5th. The utilities provider reported $0.45 EPS for the quarter, hitting analysts’ consensus estimates of $0.45. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The company had revenue of $430.20 million during the quarter, compared to the consensus estimate of $439.96 million. During the same quarter last year, the company earned $0.35 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.20 EPS. On average, research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.676 dividend. This represents a $2.70 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Black Hills’s dividend payout ratio (DPR) is 68.18%.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.