Magellan Asset Management Ltd Has $5.15 Million Stake in Black Hills Corporation $BKH

Magellan Asset Management Ltd raised its position in shares of Black Hills Corporation (NYSE:BKH) by 43.9% in the first quarter, Holdings Channel reports. The fund owned 74,162 shares of the utilities provider’s stock after buying an additional 22,630 shares during the quarter. Magellan Asset Management Ltd’s holdings in Black Hills were worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in BKH. Convergence Investment Partners LLC grew its position in shares of Black Hills by 2.1% in the first quarter. Convergence Investment Partners LLC now owns 24,379 shares of the utilities provider’s stock valued at $1,692,000 after purchasing an additional 510 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Black Hills during the 1st quarter worth about $67,000. Dimensional Fund Advisors LP boosted its stake in Black Hills by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,141,272 shares of the utilities provider’s stock valued at $79,215,000 after purchasing an additional 18,109 shares during the period. KBC Group NV boosted its stake in Black Hills by 33.2% during the 1st quarter. KBC Group NV now owns 2,538 shares of the utilities provider’s stock valued at $176,000 after purchasing an additional 632 shares during the period. Finally, Swiss National Bank grew its holdings in Black Hills by 3.8% in the 1st quarter. Swiss National Bank now owns 149,279 shares of the utilities provider’s stock valued at $10,361,000 after buying an additional 5,500 shares during the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction on 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America lifted their price target on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. BMO Capital Markets increased their price objective on Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Wall Street Zen downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Oppenheimer set a $78.00 target price on shares of Black Hills in a research note on Thursday, June 11th. Finally, Weiss Ratings downgraded shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $82.67.

Black Hills Trading Down 0.2%

Shares of BKH opened at $74.30 on Wednesday. The stock’s 50-day moving average price is $73.49 and its 200 day moving average price is $72.91. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.95 and a beta of 0.71. Black Hills Corporation has a 12-month low of $55.79 and a 12-month high of $78.69.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 EPS 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 firm had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. During the same quarter in the prior year, the business posted $1.87 EPS. Black Hills’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, research analysts predict that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were paid a $0.703 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, May 15th. 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.