AMG National Trust Bank Buys Shares of 22,427 Black Hills Corporation $BKH

Key Points

• AMG National Trust Bank purchased 22,427 shares of Black Hills Corporation worth approximately $1.67 million in the second quarter. Institutional investors collectively own 86.71% of the utility’s stock.
• Analyst sentiment remains positive: Black Hills has an average “Buy” rating and a consensus price target of $81.67, compared with shares opening at $74.34.
• 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 3.8% annualized yield.

AMG National Trust Bank purchased a new position in Black Hills Corporation (NYSE:BKH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 22,427 shares of the utilities provider's stock, valued at approximately $1,669,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in Black Hills during the second quarter valued at about $56,000. Bank of New York Mellon Corp purchased a new position in shares of Black Hills in the 2nd quarter worth about $56,841,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Black Hills in the 2nd quarter worth about $319,000. Clearstead Trust LLC bought a new position in shares of Black Hills during the 2nd quarter valued at about $34,000. Finally, Dockside LLC purchased a new position in shares of Black Hills during the 2nd quarter valued at about $1,567,000. Institutional investors own 86.71% of the company's stock.

Insider Transactions at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company's stock, valued at $807,958.92. This represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.56% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BKH shares. Bank of America upped their target price on Black Hills from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. 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. Oppenheimer set a $78.00 target price on shares of Black Hills in a report on Thursday, June 11th. Wall Street Zen raised shares of Black Hills from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, BMO Capital Markets lowered their price target on shares of Black Hills from $86.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $81.67.

Black Hills Stock Up 0.1%

Shares of Black Hills stock opened at $74.34 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. Black Hills Corporation has a 52-week low of $58.06 and a 52-week high of $78.69. The company's 50 day moving average price is $73.55 and its 200-day moving average price is $73.16. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 2.94 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last posted 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. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The company had revenue of $452.80 million during the quarter, compared to analyst estimates of $490.89 million. During the same period in the prior year, the business posted $0.38 earnings per share. Black Hills's revenue for the quarter was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts forecast that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Announces Dividend

The business 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 is Monday, August 17th. This represents a $2.81 annualized dividend and a yield of 3.8%. Black Hills's payout ratio is 70.96%.

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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