Assenagon Asset Management S.A. Makes New Investment in Black Hills Corporation $BKH

Assenagon Asset Management S.A. bought a new position in shares of Black Hills Corporation (NYSE:BKH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 25,834 shares of the utilities provider's stock, valued at approximately $1,449,000.

Several other hedge funds also recently made changes to their positions in the business. IMA Advisory Services Inc. acquired a new stake in Black Hills during the 1st quarter valued at $30,000. Clearstead Trust LLC acquired a new position in Black Hills in the first quarter valued at about $30,000. GAMMA Investing LLC raised its stake in Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Byrne Asset Management LLC raised its stake in Black Hills by 238.0% in the first quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 595 shares in the last quarter. Finally, State of Wyoming acquired a new position in Black Hills in the first quarter valued at about $59,000. 86.71% of the stock is owned by institutional investors.

Black Hills Stock Performance

NYSE:BKH opened at $60.87 on Friday. The stock has a market cap of $4.43 billion, a P/E ratio of 15.33, a price-to-earnings-growth ratio of 2.78 and a beta of 0.74. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The stock's 50-day moving average is $59.26 and its 200-day moving average is $58.75. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The company had revenue of $439.00 million for the quarter, compared to analysts' expectations of $412.69 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business's quarterly revenue was up 8.9% compared to the same quarter last year. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Equities research analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.676 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.4%. Black Hills's payout ratio is 68.01%.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Black Hills has an average rating of "Hold" and an average price target of $66.00.

Black Hills Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.

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