Hilltop Holdings Inc. Purchases New Stake in Black Hills Corporation $BKH

Hilltop Holdings Inc. acquired a new position in shares of Black Hills Corporation (NYSE:BKH) during the first quarter, HoldingsChannel.com reports. The firm acquired 6,710 shares of the utilities provider’s stock, valued at approximately $466,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Zimmer Partners LP increased its stake 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 acquiring an additional 1,050,020 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of 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 acquiring an additional 1,017,000 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of Black Hills by 17,790.3% in the fourth quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider’s stock valued at $58,943,000 after purchasing an additional 844,327 shares during the period. Balyasny Asset Management L.P. grew its holdings in shares of Black Hills by 10,853.0% in the third quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock valued at $40,901,000 after purchasing an additional 658,017 shares during the period. Finally, Capital Research Global Investors increased its position in Black Hills by 38.7% during the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Insider Transactions at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the business’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 value of $304,969.98. Following the sale, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. The trade was 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 through this link. 0.56% of the stock is currently owned by insiders.

Black Hills Stock Down 0.8%

Shares of BKH opened at $74.69 on Tuesday. The firm has a market cap of $5.69 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. Black Hills Corporation has a 12-month low of $55.79 and a 12-month high of $78.69. The company’s 50-day moving average price is $73.59 and its 200 day moving average price is $73.07. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99.

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

Wall Street Analysts Forecast Growth

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

About Black Hills

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.