SG Americas Securities LLC Raises Position in Black Hills Corporation $BKH

SG Americas Securities LLC lifted its holdings in Black Hills Corporation (NYSE:BKH) by 315.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,220 shares of the utilities provider’s stock after purchasing an additional 22,185 shares during the quarter. SG Americas Securities LLC’s holdings in Black Hills were worth $2,028,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Zimmer Partners LP boosted its holdings in Black Hills by 2,100.0% in the third 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 in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Black Hills by 176.9% during 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 acquiring an additional 1,017,000 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Black Hills by 17,790.3% in the 4th 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 last quarter. Balyasny Asset Management L.P. raised its position in shares of Black Hills by 10,853.0% in the 3rd 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 last quarter. Finally, Capital Research Global Investors boosted its stake in Black Hills by 38.7% in the 4th 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 in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of NYSE BKH opened at $73.87 on Thursday. The company has a 50 day simple moving average of $73.53 and a two-hundred day simple moving average of $72.48. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.94 and a beta of 0.71. 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 Corporation has a 12 month low of $55.79 and a 12 month high of $78.69.

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

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.703 per share. The ex-dividend date was Friday, May 15th. 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 73.18%.

Insider Activity

In other news, Director Robert P. Otto sold 4,109 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BKH. Bank of America upgraded shares of Black Hills from a “neutral” rating to a “buy” rating and upped their price target for the company from $76.00 to $78.00 in a research note on Thursday, June 11th. Siebert Williams Shank raised shares of Black Hills from a “hold” rating to a “buy” rating and boosted their price objective for the company from $79.00 to $82.00 in a report on Thursday, March 12th. BMO Capital Markets upped their target price on Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Finally, Oppenheimer set a $78.00 price target on Black Hills in a research report on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $81.17.

Black Hills Company 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.