Black Hills (NYSE:BKH) Releases FY 2026 Earnings Guidance

Posted by James Conley on Feb 4th, 2026

Black Hills (NYSE:BKH – Get Free Report) issued an update on its FY 2026 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.250-4.450 for the period, compared to the consensus estimate of 4.340. The company issued revenue guidance of -.

Black Hills Stock Performance

Shares of NYSE BKH traded down $0.29 during midday trading on Wednesday, hitting $73.75. 1,341,714 shares of the company’s stock were exchanged, compared to its average volume of 1,022,602. The stock’s 50 day moving average price is $71.24 and its 200-day moving average price is $65.32. The firm has a market cap of $5.37 billion, a P/E ratio of 18.62, a PEG ratio of 3.25 and a beta of 0.75. Black Hills has a twelve month low of $54.92 and a twelve month high of $74.99. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.91 and a quick ratio of 0.67.

Black Hills (NYSE:BKH – Get Free Report) last issued its earnings results on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $635.50 million during the quarter, compared to analyst estimates of $809.88 million. Black Hills had a net margin of 12.54% and a return on equity of 7.86%. Black Hills’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts anticipate that Black Hills will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. This is a boost from Black Hills’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, February 17th. Black Hills’s payout ratio is currently 68.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Black Hills in a research note on Monday, December 29th. BMO Capital Markets raised their price target on Black Hills from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Finally, Scotiabank raised Black Hills from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $66.00 to $81.00 in a report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.67.

View Our Latest Report on Black Hills

Insider Transactions at Black Hills

In related news, CFO Kimberly F. Nooney sold 14,500 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $70.70, for a total value of $1,025,150.00. Following the transaction, the chief financial officer directly owned 34,621 shares of the company’s stock, valued at approximately $2,447,704.70. The trade was a 29.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.63% of the company’s stock.

Black Hills News Summary

Here are the key news stories impacting Black Hills this week:

Positive Sentiment: Company set FY‑2026 adjusted EPS guidance of $4.25–$4.45 (midpoint ~$4.35), roughly in line with the consensus of $4.34 and implying ~6% growth; management targets the upper half of 4–6% long‑term adjusted EPS growth — an investor‑friendly signal about future earnings trajectory. Black Hills Corp. Reports 2025 Fourth-Quarter and Full-Year Results and Initiates 2026 Earnings Guidance
Positive Sentiment: Company is expanding into large data‑center opportunities — advancing a pipeline >3 GW (including 600 MW in the five‑year plan) — and has an on‑schedule 260‑mile transmission project, which support growth and earnings visibility. Black Hills Corp. Reports 2025 Fourth-Quarter and Full-Year Results and Initiates 2026 Earnings Guidance
Positive Sentiment: Black Hills maintains a long track record of shareholder returns (56 consecutive years of dividend increases), which tends to support valuation and attract income investors. Black Hills Corp. Reports 2025 Fourth-Quarter and Full-Year Results and Initiates 2026 Earnings Guidance
Positive Sentiment: High institutional ownership (~87%) can provide stability and limit volatility from retail flows, often supporting the stock during mixed news. With 87% institutional ownership, Black Hills Corporation (NYSE:BKH) is a favorite amongst the big guns
Neutral Sentiment: Some analysts remain conflicted on utilities names including Black Hills; coverage appears mixed, so near‑term analyst revisions could go either way. Analysts Conflicted on These Utilities Names: Origin Energy Limited (OtherOGFGF) and Black Hills (BKH)
Negative Sentiment: Q4 results: adjusted EPS $1.41 missed consensus $1.45 (‑$0.04) and revenue came in well below expectations ($635.5M vs. $809.9M est.), a significant top‑line miss that likely drove the intraday sell‑pressure. View Press Release
Negative Sentiment: Multiple news writeups highlight the mixed picture (earnings miss vs. growth initiatives), which can prompt short‑term re‑rating until revenue drivers and guidance execution are confirmed. Black Hills: Q4 Earnings Snapshot

Hedge Funds Weigh In On Black Hills

Several institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in Black Hills by 18.7% in the third quarter. Allworth Financial LP now owns 2,619 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 413 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Black Hills in the 3rd quarter worth about $478,000. Advisory Services Network LLC purchased a new stake in Black Hills in the third quarter worth about $45,000. CANADA LIFE ASSURANCE Co increased its position in Black Hills by 1.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 41,798 shares of the utilities provider’s stock valued at $2,555,000 after buying an additional 771 shares in the last quarter. Finally, Zimmer Partners LP raised its position in shares of Black Hills by 2,100.0% in the 3rd 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. 86.71% of the stock is currently owned by institutional investors.

About Black Hills

(Get Free Report)

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.