Magellan Asset Management Ltd Has $5.15 Million Stake in Black Hills Corporation $BKH

Magellan Asset Management Ltd lifted its stake in Black Hills Corporation (NYSE:BKH) by 43.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,162 shares of the utilities provider’s stock after purchasing an additional 22,630 shares during the quarter. Magellan Asset Management Ltd owned 0.10% of Black Hills worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in BKH. Advisory Services Network LLC purchased a new stake in Black Hills in the 3rd quarter worth approximately $45,000. First Horizon Corp grew its holdings in shares of Black Hills by 192.8% during the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock valued at $54,000 after acquiring an additional 509 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Black Hills by 47.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 274 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Black Hills in the first quarter worth $67,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Black Hills by 44.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 317 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Trading Down 0.2%

Black Hills stock opened at $74.30 on Wednesday. Black Hills Corporation has a one year low of $55.79 and a one year high of $78.69. The company’s fifty day moving average price is $73.49 and its two-hundred day moving average price is $72.91. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 2.95 and a beta of 0.71.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share 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 analyst estimates of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.Black Hills’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Announces Dividend

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

Insider Transactions at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the sale, the director owned 10,886 shares of the company’s stock, valued at $807,958.92. This represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Analysts Set New Price Targets

BKH has been the subject of a number of research reports. Oppenheimer set a $78.00 price objective on Black Hills in a research report on Thursday, June 11th. BMO Capital Markets raised their price target on Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Weiss Ratings downgraded Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 9th. Wall Street Zen lowered Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Bank of America boosted their price target on Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Hills presently has an average rating of “Buy” and an average price target of $82.67.

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.