763,990 Shares in Black Hills Corporation $BKH Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp purchased a new stake in Black Hills Corporation (NYSE:BKH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 763,990 shares of the utilities provider’s stock, valued at approximately $56,841,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC purchased a new position in Black Hills in the second quarter worth approximately $34,000. Advisory Services Network LLC purchased a new position in shares of Black Hills during the 3rd quarter worth $45,000. Geneos Wealth Management Inc. grew its holdings in shares of Black Hills by 44.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 317 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Black Hills by 47.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 274 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Black Hills during the 1st quarter worth about $67,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

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

Black Hills Stock Up 0.9%

Black Hills stock opened at $73.70 on Thursday. The company has a market capitalization of $5.62 billion, a P/E ratio of 18.61, a PEG ratio of 2.89 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. Black Hills Corporation has a fifty-two week low of $58.06 and a fifty-two week high of $78.69. The stock has a 50-day simple moving average of $73.69 and a 200-day simple moving average of $73.14.

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

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued 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 of this dividend is Monday, August 17th. Black Hills’s payout ratio 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.