Arrowstreet Capital Limited Partnership Acquires New Shares in Black Hills Corporation $BKH

Key Points

• Arrowstreet Capital acquired 81,807 Black Hills shares worth approximately $5.68 million, while institutional investors collectively own 86.71% of the utility company.
• Black Hills reported quarterly EPS of $1.79, missing the $1.88 analyst consensus, although revenue of $780.7 million exceeded estimates; revenue declined 3% year over year.
• The company declared a quarterly dividend of $0.703 per share, equating to an annualized $2.81 payout and a 4.0% yield. Analysts maintain a consensus “Buy” rating with an $81.67 price target.

Arrowstreet Capital Limited Partnership acquired a new position in shares of Black Hills Corporation (NYSE:BKH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 81,807 shares of the utilities provider's stock, valued at approximately $5,678,000. Arrowstreet Capital Limited Partnership owned about 0.11% of Black Hills as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC acquired a new stake in shares of Black Hills during the third quarter valued at about $45,000. First Horizon Corp grew its holdings in Black Hills by 192.8% during the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider's stock worth $54,000 after acquiring an additional 509 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Black Hills by 44.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider's stock valued at $58,000 after acquiring an additional 317 shares during the period. Smartleaf Asset Management LLC increased its position in Black Hills by 47.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider's stock valued at $59,000 after acquiring an additional 274 shares during the period. Finally, Meeder Asset Management Inc. bought a new position in shares of Black Hills during the first quarter valued at $67,000. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Stock Down 0.2%

Shares of NYSE BKH opened at $71.06 on Monday. The firm has a market cap of $5.41 billion, a PE ratio of 18.50, a P/E/G ratio of 2.82 and a beta of 0.71. Black Hills Corporation has a 12-month low of $56.31 and a 12-month high of $78.69. The company's fifty day simple moving average is $73.49 and its 200 day simple moving average is $73.11. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The company had revenue of $780.70 million during the quarter, compared to analyst estimates of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The company's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, sell-side analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a dividend of $0.703 per share. This represents a $2.81 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 17th. Black Hills's dividend payout ratio is 73.18%.

Insider Transactions at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the stock in a transaction that occurred 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 transaction, the director owned 10,886 shares in the company, valued at approximately $807,958.92. This represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.56% of the company's stock.

Analysts Set New Price Targets

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

Black Hills 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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