321,911 Shares in Black Hills Corporation $BKH Bought by Legal & General Group Plc

Legal & General Group Plc bought a new position in shares of Black Hills Corporation (NYSE:BKH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 321,911 shares of the utilities provider’s stock, valued at approximately $23,950,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BKH. The Manufacturers Life Insurance Company bought a new stake in Black Hills during the second quarter worth approximately $29,413,000. Capital Research Global Investors raised its position in shares of Black Hills by 38.7% in the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after purchasing an additional 634,800 shares during the period. BlackRock Inc. bought a new position in shares of Black Hills in the second quarter valued at approximately $928,675,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Black Hills by 6,416.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 155,752 shares of the utilities provider’s stock valued at $10,812,000 after purchasing an additional 153,362 shares during the period. Finally, Horizon Investments LLC lifted its stake in shares of Black Hills by 74.3% in the fourth quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider’s stock worth $2,397,000 after buying an additional 14,716 shares during the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BKH. BMO Capital Markets lowered their target price on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Oppenheimer set a $78.00 target price on Black Hills in a research note on Thursday, June 11th. Bank of America raised their target price on Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Weiss Ratings raised Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $81.67.

Black Hills Trading Down 0.9%

Shares of BKH opened at $72.75 on Friday. The stock’s 50-day moving average price is $73.70 and its 200 day moving average price is $73.14. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $5.55 billion, a price-to-earnings ratio of 18.37, a P/E/G ratio of 2.88 and a beta of 0.71. Black Hills Corporation has a 12-month low of $58.06 and a 12-month high of $78.69.

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

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.703 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.9%. Black Hills’s dividend payout ratio (DPR) is presently 70.96%.

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.