Sumitomo Mitsui Trust Group Inc. Purchases 9,245 Shares of Black Hills Corporation $BKH

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Black Hills Corporation (NYSE:BKH) by 121.1% during the first quarter, according to the company in its most recent 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 quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Black Hills were worth $1,172,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Meeder Advisory Services Inc. increased its stake in Black Hills by 1.6% in the 4th quarter. Meeder Advisory Services Inc. now owns 9,192 shares of the utilities provider’s stock worth $638,000 after buying an additional 145 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Black Hills by 0.6% in the third quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider’s stock valued at $1,614,000 after acquiring an additional 154 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Black Hills by 11.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 156 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Black Hills by 4.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 168 shares in the last quarter. Finally, Capital Financial Group Inc. Co. ADV boosted its stake in shares of Black Hills by 0.8% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 22,121 shares of the utilities provider’s stock worth $1,535,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

NYSE BKH opened at $74.19 on Thursday. The business’s 50 day moving average price is $73.47 and its 200-day moving average price is $72.76. Black Hills Corporation has a fifty-two week low of $55.79 and a fifty-two week high of $78.69. The company has a market cap of $5.65 billion, a P/E ratio of 19.32, a P/E/G ratio of 2.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65.

Black Hills (NYSE:BKH) last issued its quarterly earnings results 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). The company had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts predict that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, May 15th. Black Hills’s dividend payout ratio (DPR) is 73.18%.

Analysts Set New Price Targets

BKH has been the subject of several research analyst reports. BMO Capital Markets increased their target price on Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. Bank of America upped their price target on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Oppenheimer set a $78.00 price objective on shares of Black Hills in a report on Thursday, June 11th. Weiss Ratings cut shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. Finally, LADENBURG THALM/SH SH started coverage on shares of Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 target price on the stock. Six analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $82.67.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of Black Hills stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company’s stock, valued at approximately $807,958.92. The trade was a 27.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

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.