Black Hills (NYSE:BKH) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Black Hills shares rose above their 200-day moving average on Monday, trading as high as $75.59 and last changing hands around $75.12. The move came with heavy volume of 932,130 shares.
• Analyst sentiment is generally positive, with six analysts rating the stock a Buy and MarketBeat’s consensus price target at $81.17. Recent updates included upgrades from Siebert Williams Shank and Bank of America, while BMO Capital Markets raised its target to $91.
• The company reported mixed quarterly results, missing EPS expectations at $1.79 versus $1.88 expected, though revenue came in slightly above estimates at $780.7 million. Black Hills also pays a quarterly dividend of $0.703 per share, implying a 3.7% yield.

Black Hills Corporation (NYSE:BKH - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $72.44 and traded as high as $75.59. Black Hills shares last traded at $75.1210, with a volume of 932,130 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on BKH. Siebert Williams Shank raised shares of Black Hills from a "hold" rating to a "buy" rating and boosted their price target for the stock from $79.00 to $82.00 in a research note on Thursday, March 12th. Weiss Ratings upgraded shares of Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, June 24th. BMO Capital Markets lifted their price objective on shares of Black Hills from $84.00 to $91.00 and gave the stock an "outperform" rating in a report on Wednesday, April 15th. Bank of America upgraded shares of Black Hills from a "neutral" rating to a "buy" rating and upped their target price for the stock from $76.00 to $78.00 in a research report on Thursday, June 11th. Finally, Wall Street Zen lowered shares of Black Hills from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $81.17.

Black Hills Price Performance

The stock has a market capitalization of $5.72 billion, a PE ratio of 19.56, a P/E/G ratio of 3.01 and a beta of 0.72. The firm's 50 day simple moving average is $73.60 and its 200 day simple moving average is $72.44. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The business had revenue of $780.70 million during the quarter, compared to analysts' expectations of $769.19 million. During the same period last year, the company posted $1.87 EPS. Black Hills's revenue for the quarter was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities 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. Shareholders of record on Friday, May 15th were given a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, May 15th. Black Hills's dividend payout ratio is presently 73.18%.

Insider Activity

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 transaction of $304,969.98. Following the transaction, the director directly owned 10,886 shares of the company's stock, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.56% of the company's stock.

Institutional Investors Weigh In On Black Hills

A number of hedge funds and other institutional investors have recently modified their holdings of BKH. Zimmer Partners LP grew its position in 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 worth $67,750,000 after acquiring an additional 1,050,020 shares during the last quarter. Adage Capital Partners GP L.L.C. lifted its position in Black Hills by 176.9% in the fourth 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 purchasing an additional 1,017,000 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of 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 valued at $58,943,000 after purchasing an additional 844,327 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Black Hills by 10,853.0% during the third quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider's stock valued at $40,901,000 after purchasing an additional 658,017 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Black Hills by 38.7% during 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. Institutional investors own 86.71% of the company's stock.

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.

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