Black Hills Corporation $BKH Shares Bought by Bank of America Corp DE

Key Points

• Bank of America more than doubled its Black Hills position in the first quarter, adding 469,733 shares to own 899,963 shares valued at approximately $62.5 million, or 1.18% of the utility company.
• Black Hills reported quarterly EPS of $0.54, beating estimates of $0.41, while revenue rose 3.1% year over year to $452.8 million but fell short of expectations. The company maintained fiscal 2026 EPS guidance of $4.25–$4.45.
• The company declared a quarterly dividend of $0.703 per share, equivalent to an annualized $2.81 and a 3.8% yield. Analysts collectively rate the stock “Buy,” with an average price target of $81.67 versus a recent price of $73.58.

Bank of America Corp DE raised its position in Black Hills Corporation (NYSE:BKH - Free Report) by 109.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 899,963 shares of the utilities provider's stock after purchasing an additional 469,733 shares during the quarter. Bank of America Corp DE owned 1.18% of Black Hills worth $62,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of BKH. Public Employees Retirement System of Ohio grew its stake in Black Hills by 4.3% during the first quarter. Public Employees Retirement System of Ohio now owns 3,342 shares of the utilities provider's stock worth $232,000 after buying an additional 137 shares during the period. Meeder Advisory Services Inc. lifted its holdings in shares of Black Hills by 1.6% during the 4th quarter. Meeder Advisory Services Inc. now owns 9,192 shares of the utilities provider's stock valued at $638,000 after acquiring an additional 145 shares in the last quarter. Van ECK Associates Corp boosted its position in Black Hills by 0.6% during the 3rd quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider's stock worth $1,614,000 after purchasing an additional 154 shares during the period. Farther Finance Advisors LLC boosted its position in Black Hills by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider's stock worth $105,000 after purchasing an additional 156 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in Black Hills by 4.6% in the 4th quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider's stock valued at $266,000 after purchasing an additional 168 shares in the last quarter. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Trading Down 1.4%

NYSE:BKH opened at $73.58 on Tuesday. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71. Black Hills Corporation has a one year low of $58.06 and a one year high of $78.69. 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 business's 50-day simple moving average is $73.42 and its 200 day simple moving average is $73.12.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share 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 firm had revenue of $452.80 million during the quarter, compared to analyst estimates of $490.89 million. During the same quarter last year, the firm earned $0.38 EPS. Black Hills's quarterly revenue was up 3.1% on a year-over-year basis. 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 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.703 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. Black Hills's dividend payout ratio (DPR) is presently 70.96%.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of Black Hills stock in a transaction on 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 sale, the director owned 10,886 shares in the company, valued at approximately $807,958.92. The trade was a 27.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets decreased their target price on Black Hills from $86.00 to $85.00 and set an "outperform" rating for the company in a research report on Wednesday, July 22nd. Oppenheimer set a $78.00 target price on Black Hills in a research note on Thursday, June 11th. Weiss Ratings upgraded Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Finally, Bank of America boosted their price target on Black Hills from $78.00 to $87.00 and gave the stock a "buy" rating in a research report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average 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.

Want to see what other hedge funds are holding BKH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Hills Corporation (NYSE:BKH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source