Hsbc Holdings PLC Buys Shares of 34,238 Black Hills Corporation $BKH

Hsbc Holdings PLC bought a new position in shares of Black Hills Corporation (NYSE:BKH) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 34,238 shares of the utilities provider’s stock, valued at approximately $2,562,000.

Other institutional investors also recently modified their holdings of the company. Clearstead Trust LLC bought a new stake in shares of Black Hills in the 2nd quarter valued at about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Black Hills during the second quarter valued at approximately $34,000. Advisory Services Network LLC acquired a new position in Black Hills during the third quarter valued at approximately $45,000. Global Retirement Partners LLC bought a new stake in Black Hills in the second quarter valued at approximately $56,000. Finally, Geneos Wealth Management Inc. increased its stake in Black Hills by 44.0% in 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. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Oppenheimer set a $78.00 target price on shares of Black Hills in a report on Thursday, June 11th. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. BMO Capital Markets dropped their price objective 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. Bank of America lifted their target price on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Wall Street Zen upgraded Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $81.67.

Black Hills Stock Down 0.1%

Black Hills stock opened at $72.75 on Monday. The stock has a market capitalization of $5.55 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 2.88 and a beta of 0.71. Black Hills Corporation has a twelve month low of $58.06 and a twelve month high of $78.69. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average of $73.70 and a 200-day moving average of $73.15.

Black Hills (NYSE:BKH) last issued its quarterly earnings data 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 business had revenue of $452.80 million for the quarter, compared to analyst estimates of $490.89 million. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts anticipate that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.703 per share. This represents a $2.81 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Monday, August 17th. Black Hills’s dividend payout ratio is 70.96%.

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.