Martin Capital Partners LLC Boosts Stock Holdings in Black Hills Corporation $BKH

Key Points

• Martin Capital Partners LLC increased its stake in Black Hills Corporation by 255.1% during the second quarter, acquiring an additional 76,171 shares, bringing their total ownership to 106,036 shares.
• Black Hills Corporation reported a quarterly earnings per share of $0.38, matching analysts' expectations, and showed a revenue increase of 8.9% compared to the same quarter last year, reaching $439 million.
• Bank of America upgraded Black Hills' rating from "underperform" to "neutral" and raised the target price from $57.00 to $64.00, indicating positive analyst sentiment towards the stock.

Martin Capital Partners LLC raised its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 255.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,036 shares of the utilities provider's stock after acquiring an additional 76,171 shares during the quarter. Black Hills comprises approximately 2.3% of Martin Capital Partners LLC's portfolio, making the stock its 17th biggest holding. Martin Capital Partners LLC owned approximately 0.15% of Black Hills worth $5,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IMA Advisory Services Inc. bought a new stake in Black Hills during the 1st quarter valued at $30,000. Clearstead Trust LLC bought a new stake in Black Hills during the 1st quarter valued at $30,000. GAMMA Investing LLC increased its holdings in shares of Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock worth $37,000 after purchasing an additional 225 shares during the period. Byrne Asset Management LLC increased its holdings in shares of Black Hills by 238.0% in the first quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider's stock worth $51,000 after purchasing an additional 595 shares during the period. Finally, State of Wyoming bought a new position in shares of Black Hills in the first quarter worth $59,000. Institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

NYSE:BKH traded down $0.21 during midday trading on Friday, hitting $58.51. The company had a trading volume of 235,150 shares, compared to its average volume of 539,367. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. The stock's fifty day moving average price is $58.93 and its 200-day moving average price is $58.77. The company has a market capitalization of $4.26 billion, a PE ratio of 14.74, a P/E/G ratio of 2.71 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm'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. As a group, research 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 declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, August 18th. Black Hills's dividend payout ratio is presently 68.01%.

Wall Street Analysts Forecast Growth

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

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.