763,990 Shares in Black Hills Corporation $BKH Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 763,990 shares of the utilities provider's stock, valued at approximately $56,841,000. Bank of New York Mellon Corp owned approximately 1.00% of Black Hills as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its position in Black Hills by 4.3% in the first quarter. Public Employees Retirement System of Ohio now owns 3,342 shares of the utilities provider's stock worth $232,000 after acquiring an additional 137 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in Black Hills by 1.6% in the fourth quarter. Meeder Advisory Services Inc. now owns 9,192 shares of the utilities provider's stock worth $638,000 after buying an additional 145 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Black Hills by 0.6% in the third quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider's stock valued at $1,614,000 after acquiring an additional 154 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Black Hills by 11.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider's stock worth $105,000 after buying an additional 156 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its stake in shares of Black Hills by 4.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider's stock valued at $266,000 after purchasing an additional 168 shares during the period. 86.71% of the stock is owned by institutional investors.

Black Hills Price Performance

Shares of NYSE BKH opened at $73.70 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a 52 week low of $58.06 and a 52 week high of $78.69. The business's 50 day moving average price is $73.69 and its 200 day moving average price is $73.14. The firm has a market cap of $5.62 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.89 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The business had revenue of $452.80 million for the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The business's revenue for the quarter 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. On average, sell-side analysts expect that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be issued a $0.703 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. Black Hills's dividend payout ratio is presently 70.96%.

Wall Street Analyst Weigh In

Several research analysts recently commented on BKH shares. Bank of America raised their price target on shares of Black Hills from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Wall Street Zen upgraded Black Hills from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. BMO Capital Markets decreased their target price on Black Hills from $86.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Oppenheimer set a $78.00 price objective on Black Hills in a report on Thursday, June 11th. Finally, 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. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Hills currently 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.

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