Bank of America Corp DE Invests $42.61 Million in Black Hills Corporation $BKH

Key Points

• Bank of America acquired a new $42.6 million stake in Black Hills Corporation during the second quarter, purchasing 572,758 shares and holding approximately 0.75% of the utility.
• Black Hills reported quarterly EPS of $0.54, exceeding the $0.41 consensus estimate, while revenue rose 3.1% year over year to $452.8 million. The company reaffirmed fiscal 2026 EPS guidance of $4.25–$4.45.
• The utility maintains a quarterly dividend of $0.703 per share, equivalent to a 3.9% yield. Analysts collectively rate the stock “Buy,” with an average price target of $83.33 versus its $72.12 opening price.

Bank of America Corp DE purchased a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 572,758 shares of the utilities provider's stock, valued at approximately $42,613,000. Bank of America Corp DE owned approximately 0.75% of Black Hills as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new position in Black Hills in the 2nd quarter valued at approximately $34,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Black Hills during the 2nd quarter valued at $34,000. Global Retirement Partners LLC bought a new stake in shares of Black Hills in the 2nd quarter worth $56,000. Meeder Asset Management Inc. bought a new stake in shares of Black Hills in the 2nd quarter worth $68,000. Finally, Johnson Financial Group Inc. purchased a new position in shares of Black Hills in the second quarter worth $74,000. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Up 2.4%

Black Hills stock opened at $72.12 on Tuesday. Black Hills Corporation has a one year low of $58.65 and a one year high of $78.69. The stock has a fifty day moving average of $73.04 and a 200 day moving average of $72.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. The stock has a market cap of $5.50 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.79 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.13. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.The business had revenue of $452.80 million during the quarter, compared to the consensus estimate of $490.89 million. During the same period in the previous year, the company posted $0.38 EPS. The business's quarterly revenue was up 3.1% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, sell-side analysts predict that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were given a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, August 17th. Black Hills's payout ratio is 70.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America increased their price objective on Black Hills from $87.00 to $97.00 and gave the company a "buy" rating in a research report on Monday. Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. BMO Capital Markets lowered their target price on shares of Black Hills from $86.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 22nd. Oppenheimer set a $78.00 price target on shares of Black Hills in a report on Thursday, June 11th. Finally, Weiss Ratings upgraded shares of Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $83.33.

About Black Hills

Black Hills Corporation NYSE: BKH is a diversified energy company headquartered in Rapid City, South Dakota. Through its regulated utilities, the company provides electric and natural gas service to residential, commercial, industrial and institutional customers.

Black Hills' electric operations generate, purchase, transmit and distribute electricity through a portfolio that includes coal, natural gas, wind and other energy resources. Its natural gas utilities transport and distribute natural gas, while also operating related storage and pipeline infrastructure.

The company serves communities across several Midwestern and Western states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.

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