89,584 Black Hills Corporation $BKH Shares Sold by ProShare Advisors LLC

Key Points

• ProShare Advisors reduced its Black Hills stake by 19.3%, selling 89,584 shares in the third quarter and retaining 374,589 shares worth approximately $26.3 million. Institutional investors collectively own 86.71% of the utility company.
• Analysts remain broadly optimistic, with Black Hills holding a consensus “Buy” rating and an average price target of $83.25. Recent upgrades included Freedom Broker and Bank of America, which raised its target to $97.
• Black Hills exceeded quarterly EPS expectations, reporting $0.54 versus the $0.41 consensus estimate, while revenue rose 3.1% year over year. The company also declared a quarterly dividend of $0.703 per share, representing a 3.4% annualized yield.

ProShare Advisors LLC lessened its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 19.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 374,589 shares of the utilities provider's stock after selling 89,584 shares during the quarter. ProShare Advisors LLC owned about 0.49% of Black Hills worth $26,251,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in Black Hills in the 2nd quarter worth approximately $29,413,000. BlackRock Inc. bought a new stake in Black Hills during the 2nd quarter valued at $928,675,000. Banque Pictet & Cie SA bought a new stake in Black Hills during the 3rd quarter valued at $3,214,000. Engineers Gate Manager LP raised its holdings in Black Hills by 35.7% during the 2nd quarter. Engineers Gate Manager LP now owns 1,442,064 shares of the utilities provider's stock valued at $107,290,000 after acquiring an additional 379,211 shares during the period. Finally, HighTower Advisors LLC lifted its position in shares of Black Hills by 18.0% during the second quarter. HighTower Advisors LLC now owns 394,572 shares of the utilities provider's stock worth $29,356,000 after acquiring an additional 60,052 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BKH shares. Freedom Broker raised Black Hills from a "hold" rating to a "buy" rating and raised their price target for the stock from $69.00 to $78.00 in a report on Wednesday, October 7th. Wall Street Zen upgraded Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Bank of America boosted their price objective on Black Hills from $87.00 to $97.00 and gave the company a "buy" rating in a research note on Monday, September 21st. BMO Capital Markets increased their price objective on Black Hills from $83.00 to $86.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Black Hills in a research note on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, Black Hills has a consensus rating of "Buy" and a consensus price target of $83.25.

Black Hills Stock Performance

NYSE:BKH opened at $82.58 on Tuesday. The business's 50-day moving average price is $74.21 and its two-hundred day moving average price is $73.39. Black Hills Corporation has a twelve month low of $62.26 and a twelve month high of $82.95. The stock has a market cap of $6.30 billion, a P/E ratio of 20.85, a PEG ratio of 3.15 and a beta of 0.71. 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 (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.41 by $0.13. The company had revenue of $452.80 million during the quarter, compared to analyst estimates of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%. Black Hills's revenue was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts predict that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be paid a $0.7030 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 17th. Black Hills's payout ratio is currently 70.96%.

Black Hills Profile

Black Hills Corporation NYSE: BKH is an energy company headquartered in Rapid City, South Dakota. Through its Black Hills Energy businesses, the company provides regulated electric and natural gas utility services to residential, commercial and industrial customers.

Black Hills operates electric utilities and natural gas distribution systems across parts of Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Its activities include generating and purchasing electricity, transmitting and distributing power, distributing natural gas, and developing and maintaining the infrastructure needed to serve its utility customers.

The company traces its history to the Black Hills region and has expanded through the development and acquisition of utility operations in the central and western United States.

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