Pictet Asset Management Holding SA Buys 582,523 Shares of Black Hills Corporation $BKH

Pictet Asset Management Holding SA boosted its stake in shares of Black Hills Corporation (NYSE:BKH) by 5,286.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 593,543 shares of the utilities provider’s stock after acquiring an additional 582,523 shares during the period. Pictet Asset Management Holding SA owned 0.78% of Black Hills worth $41,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Black Hills by 67.7% in the third quarter. JPMorgan Chase & Co. now owns 618,131 shares of the utilities provider’s stock worth $38,071,000 after buying an additional 249,640 shares in the last quarter. Capital Research Global Investors grew its holdings in Black Hills by 38.7% during the 4th 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 in the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in Black Hills in the 4th quarter worth approximately $5,985,000. Northwestern Mutual Wealth Management Co. increased its stake in Black Hills by 6,416.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,752 shares of the utilities provider’s stock worth $10,812,000 after acquiring an additional 153,362 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in shares of Black Hills by 74.3% during the 4th quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider’s stock worth $2,397,000 after acquiring an additional 14,716 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Black Hills Stock Down 1.2%

NYSE BKH opened at $74.36 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $73.57 and a two-hundred day moving average of $72.46. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.98 and a beta of 0.72. Black Hills Corporation has a 52 week low of $55.79 and a 52 week high of $78.69.

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

Black Hills Announces Dividend

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

Insiders Place Their Bets

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction dated 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 sale, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Analyst Ratings Changes

BKH has been the subject of a number of recent research reports. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. BMO Capital Markets upped their price target on shares of Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Oppenheimer set a $78.00 price objective on shares of Black Hills in a research report on Thursday, June 11th. Wall Street Zen downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, LADENBURG THALM/SH SH began coverage on shares of Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $81.17.

Black Hills 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.