Louisiana State Employees Retirement System Makes New $1.52 Million Investment in Black Hills Corporation $BKH

Louisiana State Employees Retirement System acquired a new position in shares of Black Hills Corporation (NYSE:BKH) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 21,900 shares of the utilities provider’s stock, valued at approximately $1,520,000.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Black Hills by 0.8% during the second 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. Capital Research Global Investors lifted its position in shares of Black Hills by 38.7% in 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 boosted its stake in 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 worth $131,548,000 after purchasing an additional 55,232 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in 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 purchasing an additional 1,017,000 shares during the period. Finally, AQR Capital Management LLC grew its position in Black Hills by 3.2% during the 4th quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock worth $98,464,000 after purchasing an additional 44,334 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of Black Hills 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.56% of the company’s stock.

Black Hills Trading Up 0.0%

NYSE:BKH opened at $73.64 on Friday. The stock’s 50 day moving average price is $73.54 and its 200 day moving average price is $72.49. Black Hills Corporation has a 52 week low of $55.79 and a 52 week high of $78.69. The company has a market capitalization of $5.61 billion, a P/E ratio of 19.18, a P/E/G ratio of 2.91 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The business had revenue of $780.70 million for the quarter, compared to the consensus estimate of $769.19 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. Black Hills’s revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, research analysts forecast that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.703 per share. The ex-dividend date was Friday, May 15th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. Black Hills’s dividend payout ratio (DPR) is currently 73.18%.

Analysts Set New Price Targets

BKH has been the topic of several recent analyst reports. Siebert Williams Shank raised shares of Black Hills from a “hold” rating to a “buy” rating and boosted their target price for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Oppenheimer set a $78.00 price target on Black Hills in a research report on Thursday, June 11th. LADENBURG THALM/SH SH assumed coverage on Black Hills in a research note on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price objective for the company. Finally, BMO Capital Markets increased their price objective on Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $81.17.

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.