Freestone Grove Partners LP Purchases New Shares in Black Hills Corporation $BKH

Freestone Grove Partners LP acquired a new position in Black Hills Corporation (NYSE:BKH) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 302,329 shares of the utilities provider’s stock, valued at approximately $22,493,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in shares of Black Hills in the 2nd quarter worth about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Black Hills during the second quarter worth about $34,000. Advisory Services Network LLC bought a new stake in Black Hills during the third quarter worth about $45,000. Global Retirement Partners LLC purchased a new stake in Black Hills in the second quarter worth about $56,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Black Hills by 44.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 317 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BKH. BMO Capital Markets lowered their target price on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Oppenheimer set a $78.00 price objective on Black Hills in a research report on Thursday, June 11th. Bank of America lifted their price objective on Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Weiss Ratings raised Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $81.67.

Black Hills Price Performance

NYSE BKH opened at $73.42 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a 12 month low of $58.06 and a 12 month high of $78.69. The company’s 50 day moving average is $73.70 and its two-hundred day moving average is $73.14. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 2.92 and a beta of 0.71.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The firm had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $490.89 million. During the same quarter last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, research analysts anticipate that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.703 per share. The ex-dividend date is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. Black Hills’s dividend payout ratio (DPR) is presently 70.96%.

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.