45,863 Shares of Black Hills Corporation $BKH Purchased by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA purchased 45,863 Black Hills shares worth approximately $3.2 million, while institutional investors collectively own 86.71% of the utility company.
• Black Hills reported quarterly EPS of $0.54, beating estimates of $0.41, with revenue rising 3.1% year over year to $452.8 million. The company maintained FY 2026 EPS guidance of $4.25–$4.45.
• The company pays a quarterly dividend of $0.703 per share, equivalent to a 3.7% yield, and analysts maintain a consensus “Buy” rating with an average price target of $83.25.

Banque Pictet & Cie SA purchased a new stake in Black Hills Corporation (NYSE:BKH - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 45,863 shares of the utilities provider's stock, valued at approximately $3,214,000. Banque Pictet & Cie SA owned approximately 0.06% of Black Hills as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Black Hills during the second quarter valued at approximately $928,675,000. Corient Private Wealth LP acquired a new stake in Black Hills in the second quarter valued at approximately $3,691,000. Bank of New York Mellon Corp acquired a new stake in Black Hills in the second quarter valued at approximately $56,841,000. Pictet Asset Management Holding SA grew its position in Black Hills by 5,286.1% in the first quarter. Pictet Asset Management Holding SA now owns 593,543 shares of the utilities provider's stock worth $41,198,000 after acquiring an additional 582,523 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Black Hills in the second quarter worth approximately $42,613,000. Institutional investors own 86.71% of the company's stock.

Black Hills Stock Up 1.1%

Shares of BKH stock opened at $76.69 on Friday. The stock's 50 day simple moving average is $72.73 and its 200 day simple moving average is $73.25. Black Hills Corporation has a twelve month low of $62.10 and a twelve month high of $78.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.03 and a beta of 0.68.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (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 firm had revenue of $452.80 million during the quarter, compared to analysts' expectations of $490.89 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company's 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 EPS for the current year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were issued a dividend of $0.7030 per share. This represents a $2.81 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, August 17th. Black Hills's dividend payout ratio is currently 70.96%.

Analysts Set New Price Targets

BKH has been the topic of several analyst reports. BMO Capital Markets increased their price target on shares of Black Hills from $83.00 to $86.00 and gave the stock an "outperform" rating in a research note on Thursday, October 8th. Jefferies Financial Group initiated coverage on shares of Black Hills in a report on Wednesday. They set a "buy" rating and a $87.00 price target on the stock. Weiss Ratings raised shares of Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Black Hills from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Bank of America upped their price objective on shares of Black Hills from $87.00 to $97.00 and gave the stock a "buy" rating in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $83.25.

About Black Hills

Black Hills Corporation NYSE: BKH is a regulated utility holding company headquartered in Rapid City, South Dakota. Through its operating subsidiaries, the company provides electric and natural gas utility services to residential, commercial, industrial and other customers.

Black Hills owns and operates electric generation, transmission and distribution facilities, as well as natural gas distribution, storage and transportation infrastructure. Its electric utilities serve customers in Colorado, Montana, South Dakota and Wyoming, while its natural gas utilities operate in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming.

The company traces its history to the development of utility services in the Black Hills region and was incorporated as Black Hills Corporation in 1941.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.