79,200 Shares in Black Hills Corporation $BKH Bought by Renaissance Technologies LLC

Key Points

• Renaissance Technologies bought 79,200 shares of Black Hills, valued at approximately $5.5 million, establishing a 0.10% stake. Institutional investors collectively own 86.71% of the utility company.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $81.67, compared with the stock’s recent price of $71.55.
• Black Hills exceeded quarterly EPS expectations, reporting $0.54 versus the $0.41 consensus estimate, and announced a $0.703 quarterly dividend, equivalent to a 3.9% annualized yield.

Renaissance Technologies LLC purchased a new stake in Black Hills Corporation (NYSE:BKH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 79,200 shares of the utilities provider's stock, valued at approximately $5,497,000. Renaissance Technologies LLC owned 0.10% of Black Hills at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in Black Hills during the third quarter worth $45,000. First Horizon Corp grew its holdings in shares of Black Hills by 192.8% during the fourth quarter. First Horizon Corp now owns 773 shares of the utilities provider's stock valued at $54,000 after buying an additional 509 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Black Hills by 44.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider's stock valued at $58,000 after buying an additional 317 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Black Hills by 47.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider's stock worth $59,000 after acquiring an additional 274 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Black Hills during the first quarter worth about $67,000. Institutional investors own 86.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America raised their price target on shares of Black Hills from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Oppenheimer set a $78.00 price objective on Black Hills in a research note on Thursday, June 11th. BMO Capital Markets cut their target price on Black Hills from $86.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Wall Street Zen downgraded Black Hills from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Weiss Ratings upgraded Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $81.67.

Black Hills Trading Down 1.0%

NYSE:BKH opened at $71.55 on Thursday. Black Hills Corporation has a 52 week low of $58.06 and a 52 week high of $78.69. The firm has a 50-day moving average price of $73.33 and a two-hundred day moving average price of $73.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 2.86 and a beta of 0.71.

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 for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million for the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The company's revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities analysts expect that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a $0.703 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 annualized dividend and a yield of 3.9%. Black Hills's payout ratio is currently 73.18%.

Insider Transactions at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the company's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director owned 10,886 shares in the company, valued at $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.56% of the stock is owned by company insiders.

About Black Hills

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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