Sumitomo Mitsui Trust Group Inc. Raises Position in Black Hills Corporation $BKH

Sumitomo Mitsui Trust Group Inc. lifted its position in Black Hills Corporation (NYSE:BKH) by 121.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,881 shares of the utilities provider’s stock after buying an additional 9,245 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Black Hills were worth $1,172,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BKH. State Street Corp raised its holdings in Black Hills by 0.8% in the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock worth $215,515,000 after acquiring an additional 31,093 shares during the last quarter. Capital Research Global Investors boosted its holdings 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 purchasing an additional 634,800 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Black Hills by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after purchasing an additional 55,232 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Black Hills by 176.9% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock worth $110,517,000 after purchasing an additional 1,017,000 shares during the period. Finally, AQR Capital Management LLC grew its position in Black Hills by 3.2% in the 4th quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock worth $98,464,000 after purchasing an additional 44,334 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert P. Otto sold 4,109 shares of the firm’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 transaction, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. 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. Oppenheimer set a $78.00 price objective on Black Hills in a research report on Thursday, June 11th. Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, LADENBURG THALM/SH SH initiated coverage on Black Hills in a research report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Black Hills presently has a consensus rating of “Buy” and a consensus target price of $82.67.

Black Hills Stock Down 1.8%

BKH opened at $74.19 on Thursday. The firm’s 50 day simple moving average is $73.47 and its two-hundred day simple moving average is $72.76. The company has a market capitalization of $5.65 billion, a PE ratio of 19.32, a PEG ratio of 2.99 and a beta of 0.71. Black Hills Corporation has a 1-year low of $55.79 and a 1-year high of $78.69. 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 issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The business had revenue of $780.70 million for the quarter, compared to the consensus estimate of $769.19 million. During the same period in the previous year, the firm earned $1.87 EPS. The company’s revenue was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts forecast that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were given a $0.703 dividend. The ex-dividend date was Friday, May 15th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. Black Hills’s dividend payout ratio is presently 73.18%.

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.