Black Hills (NYSE:BKH) Releases Quarterly Earnings Results

Black Hills (NYSE:BKH) released its earnings results on Wednesday. The utilities provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.04, FiscalAI reports. Black Hills had a return on equity of 7.86% and a net margin of 12.54%.The firm had revenue of $635.50 million for the quarter, compared to analysts’ expectations of $809.88 million. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. Black Hills updated its FY 2026 guidance to 4.250-4.450 EPS.

Black Hills Stock Down 0.4%

Shares of NYSE BKH opened at $73.75 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.91 and a debt-to-equity ratio of 1.10. The business’s 50 day moving average is $71.24 and its two-hundred day moving average is $65.32. Black Hills has a 52-week low of $54.92 and a 52-week high of $74.99. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 3.25 and a beta of 0.75.

Black Hills Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Tuesday, February 17th will be issued a $0.703 dividend. This is a boost from Black Hills’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, February 17th. This represents a $2.81 annualized dividend and a yield of 3.8%. Black Hills’s payout ratio is 68.18%.

Key Stories Impacting Black Hills

Here are the key news stories impacting Black Hills this week:

• Positive Sentiment: Company set FY‑2026 adjusted EPS guidance of $4.25–$4.45 (midpoint ~$4.35), roughly in line with the consensus of $4.34 and implying ~6% growth; management targets the upper half of 4–6% long‑term adjusted EPS growth — an investor‑friendly signal about future earnings trajectory. Black Hills Corp. Reports 2025 Fourth-Quarter and Full-Year Results and Initiates 2026 Earnings Guidance
• Positive Sentiment: Company is expanding into large data‑center opportunities — advancing a pipeline >3 GW (including 600 MW in the five‑year plan) — and has an on‑schedule 260‑mile transmission project, which support growth and earnings visibility. Black Hills Corp. Reports 2025 Fourth-Quarter and Full-Year Results and Initiates 2026 Earnings Guidance
• Positive Sentiment: Black Hills maintains a long track record of shareholder returns (56 consecutive years of dividend increases), which tends to support valuation and attract income investors. Black Hills Corp. Reports 2025 Fourth-Quarter and Full-Year Results and Initiates 2026 Earnings Guidance
• Positive Sentiment: High institutional ownership (~87%) can provide stability and limit volatility from retail flows, often supporting the stock during mixed news. With 87% institutional ownership, Black Hills Corporation (NYSE:BKH) is a favorite amongst the big guns
• Neutral Sentiment: Some analysts remain conflicted on utilities names including Black Hills; coverage appears mixed, so near‑term analyst revisions could go either way. Analysts Conflicted on These Utilities Names: Origin Energy Limited (OtherOGFGF) and Black Hills (BKH)
• Negative Sentiment: Q4 results: adjusted EPS $1.41 missed consensus $1.45 (‑$0.04) and revenue came in well below expectations ($635.5M vs. $809.9M est.), a significant top‑line miss that likely drove the intraday sell‑pressure. View Press Release
• Negative Sentiment: Multiple news writeups highlight the mixed picture (earnings miss vs. growth initiatives), which can prompt short‑term re‑rating until revenue drivers and guidance execution are confirmed. Black Hills: Q4 Earnings Snapshot

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Black Hills in a research note on Monday, December 29th. BMO Capital Markets lifted their price objective on shares of Black Hills from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, January 27th. Finally, Scotiabank upgraded shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $66.00 to $81.00 in a research note on Friday, November 7th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.67.

Insider Buying and Selling at Black Hills

In other news, CFO Kimberly F. Nooney sold 14,500 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $70.70, for a total value of $1,025,150.00. Following the sale, the chief financial officer directly owned 34,621 shares in the company, valued at approximately $2,447,704.70. This trade represents a 29.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. State Street Corp increased its position 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 valued at $215,515,000 after acquiring an additional 31,093 shares during the period. AQR Capital Management LLC lifted its position in Black Hills by 52.8% during the 3rd quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider’s stock worth $84,628,000 after acquiring an additional 474,947 shares during the period. Zimmer Partners LP grew its stake in shares of Black Hills by 2,100.0% in the 3rd quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock valued at $67,750,000 after purchasing an additional 1,050,020 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Black Hills by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,099,293 shares of the utilities provider’s stock valued at $67,704,000 after purchasing an additional 21,922 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Black Hills by 4.4% during the third quarter. Invesco Ltd. now owns 818,348 shares of the utilities provider’s stock worth $50,402,000 after purchasing an additional 34,595 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

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.