Magellan Asset Management Ltd Takes Position in Black Hills Corporation $BKH

Magellan Asset Management Ltd purchased a new position in Black Hills Corporation (NYSE:BKH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 85,307 shares of the utilities provider’s stock, valued at approximately $6,347,000.

Several other large investors also recently bought and sold shares of BKH. BlackRock Inc. purchased a new position in Black Hills in the 2nd quarter worth approximately $928,675,000. Zimmer Partners LP boosted its position in shares of Black Hills by 2,100.0% during the 3rd quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock valued at $67,750,000 after acquiring an additional 1,050,020 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of 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 valued at $110,517,000 after buying an additional 1,017,000 shares during the period. Engineers Gate Manager LP increased its stake in Black Hills by 17,790.3% during the fourth quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider’s stock worth $58,943,000 after acquiring an additional 844,327 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Black Hills in the 2nd quarter valued at about $56,841,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the transaction, the director directly owned 10,886 shares in the company, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is owned by corporate insiders.

Black Hills Price Performance

BKH stock opened at $71.71 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99. The business has a 50 day simple moving average of $73.69 and a 200-day simple moving average of $73.16. Black Hills Corporation has a twelve month low of $58.06 and a twelve month high of $78.69. The company has a market capitalization of $5.47 billion, a P/E ratio of 18.11, a PEG ratio of 2.84 and a beta of 0.71.

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

Black Hills Announces Dividend

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

Analysts Set New Price Targets

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

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.