Royal Bank of Canada Lowers Position in Black Hills Corporation $BKH

Royal Bank of Canada lessened its holdings in Black Hills Corporation (NYSE:BKH) by 8.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 103,103 shares of the utilities provider’s stock after selling 9,342 shares during the period. Royal Bank of Canada owned about 0.14% of Black Hills worth $7,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in Black Hills by 0.8% in the second quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock worth $215,515,000 after buying an additional 31,093 shares in the last quarter. Capital Research Global Investors boosted its position in Black Hills by 38.7% during the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after acquiring an additional 634,800 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Black Hills by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock valued at $131,548,000 after acquiring an additional 55,232 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of 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 acquiring an additional 1,017,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of 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 acquiring an additional 44,334 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BKH. Weiss Ratings raised Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. BMO Capital Markets decreased their price target on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Oppenheimer set a $78.00 price target on shares of Black Hills in a report on Thursday, June 11th. Bank of America lifted their price objective on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Finally, Wall Street Zen raised shares of Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $81.67.

Black Hills Price Performance

Shares of BKH opened at $73.58 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.52 and a quick ratio of 0.41. The company’s fifty day moving average price is $73.42 and its 200-day moving average price is $73.12. Black Hills Corporation has a 1-year low of $58.06 and a 1-year high of $78.69. The firm has a market capitalization of $5.60 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71.

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

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.703 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. Black Hills’s dividend payout ratio (DPR) is currently 70.96%.

Insider Transactions at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the sale, the director 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

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.