Cubist Systematic Strategies LLC Grows Holdings in Black Hills Corporation $BKH

Key Points

• Cubist Systematic Strategies LLC increased its stake in Black Hills Corporation ($BKH) by a remarkable 551.4%, owning around 242,668 shares worth approximately $14.7 million at the end of the latest reporting period.
• Black Hills Corporation reported $0.38 earnings per share for the quarter, meeting analysts' expectations, and noted a revenue increase of 8.9% year-over-year to $439 million.
• The company has declared a quarterly dividend of $0.676, representing an annualized dividend yield of 4.5%, with the payout scheduled for September 2nd.

Cubist Systematic Strategies LLC grew its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 551.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 242,668 shares of the utilities provider's stock after acquiring an additional 205,414 shares during the period. Cubist Systematic Strategies LLC owned about 0.33% of Black Hills worth $14,718,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Journey Strategic Wealth LLC raised its stake in shares of Black Hills by 4.1% during the first quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider's stock valued at $265,000 after acquiring an additional 172 shares during the last quarter. Financial Counselors Inc. raised its stake in shares of Black Hills by 0.3% during the first quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider's stock valued at $3,286,000 after acquiring an additional 176 shares during the last quarter. Xponance Inc. raised its stake in shares of Black Hills by 1.9% during the first quarter. Xponance Inc. now owns 10,218 shares of the utilities provider's stock valued at $620,000 after acquiring an additional 188 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Black Hills by 5.9% during the fourth quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock valued at $206,000 after acquiring an additional 197 shares during the last quarter. Finally, State of Michigan Retirement System raised its stake in shares of Black Hills by 1.2% during the first quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider's stock valued at $1,037,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 86.71% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BKH shares. Bank of America raised shares of Black Hills from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. BMO Capital Markets started coverage on shares of Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 target price for the company. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $66.00.

Black Hills Stock Up 0.2%

NYSE:BKH traded up $0.12 during trading hours on Thursday, reaching $59.57. The company had a trading volume of 641,719 shares, compared to its average volume of 546,467. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 2.78 and a beta of 0.74. The business's 50-day simple moving average is $58.41 and its two-hundred day simple moving average is $58.85. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59.

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

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.676 per share. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Monday, August 18th. Black Hills's dividend payout ratio (DPR) is currently 68.01%.

Black Hills Company 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.