Black Hills (NYSE:BKH) Posts Earnings Results, Misses Estimates By $0.09 EPS

Black Hills (NYSE:BKH) released its quarterly earnings results on Wednesday. The utilities provider reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09), FiscalAI reports. The company had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $769.19 million. Black Hills had a return on equity of 7.88% and a net margin of 12.61%.The company’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.87 EPS. Black Hills updated its FY 2026 guidance to 4.250-4.450 EPS.

Black Hills Stock Up 0.0%

NYSE:BKH traded up $0.02 during midday trading on Friday, reaching $75.24. 277,364 shares of the stock traded hands, compared to its average volume of 993,121. The stock has a market capitalization of $5.72 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.95 and a beta of 0.74. Black Hills has a 12-month low of $55.49 and a 12-month high of $78.69. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.11 and a current ratio of 1.35. The business has a 50-day moving average of $72.64 and a two-hundred day moving average of $71.26.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be paid a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Friday, May 15th. Black Hills’s payout ratio is 70.60%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Black Hills in a report on Friday, March 27th. Siebert Williams Shank upgraded Black Hills from a “hold” rating to a “buy” rating and raised their price target for the stock from $79.00 to $82.00 in a research report on Thursday, March 12th. Bank of America increased their target price on shares of Black Hills from $72.00 to $76.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wall Street Zen lowered shares of Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Black Hills in a research note on Wednesday, April 1st. They set a “buy” rating and a $77.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.40.

Hedge Funds Weigh In On Black Hills

A number of large investors have recently made changes to their positions in BKH. State Street Corp boosted its position in shares of Black Hills by 0.8% in the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock worth $215,515,000 after purchasing an additional 31,093 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock valued at $110,517,000 after buying an additional 1,017,000 shares in the last quarter. AQR Capital Management LLC raised its stake in Black Hills by 3.2% in the fourth quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock valued at $98,464,000 after buying an additional 44,334 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Black Hills by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,123,163 shares of the utilities provider’s stock valued at $77,971,000 after buying an additional 23,870 shares during the last quarter. Finally, Zimmer Partners LP boosted its holdings in Black Hills by 2,100.0% in the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock worth $67,750,000 after acquiring an additional 1,050,020 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

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.