Renaissance Technologies LLC Makes New Investment in Black Hills Corporation $BKH

Renaissance Technologies LLC bought a new stake in Black Hills Corporation (NYSE:BKH) during the first quarter, HoldingsChannel reports. The institutional investor bought 79,200 shares of the utilities provider’s stock, valued at approximately $5,497,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Zimmer Partners LP increased its stake in shares of Black Hills by 2,100.0% during 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. Adage Capital Partners GP L.L.C. lifted its stake in Black Hills by 176.9% in the fourth 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 during the last quarter. Engineers Gate Manager LP grew its holdings in Black Hills by 17,790.3% during 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 Black Hills by 10,853.0% during 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% in the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after buying an additional 634,800 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Black Hills Trading Down 1.0%

Shares of BKH stock opened at $71.55 on Thursday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 2.86 and a beta of 0.71. The company’s fifty day simple moving average is $73.33 and its two-hundred day simple moving average is $73.11. Black Hills Corporation has a 1 year low of $58.06 and a 1 year high of $78.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53.

Black Hills (NYSE:BKH) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million during the quarter, compared to analyst estimates of $490.89 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, analysts anticipate that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.703 dividend. The ex-dividend date is Monday, August 17th. This represents a $2.81 annualized dividend and a yield of 3.9%. Black Hills’s dividend payout ratio (DPR) is currently 73.18%.

Insider Buying and Selling

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of Black Hills stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.