Black Hills Corporation $BKH Shares Sold by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC sold 11,746 shares of Black Hills Corporation, reducing its holdings by 6.6% in the first quarter, and now owns approximately 0.23% of the company with a valuation of $10.16 million.
• Bank of America Corp DE significantly increased its holdings in Black Hills by 203.6% during the fourth quarter, owning nearly 508,000 shares worth about $29.73 million.
• Black Hills announced a quarterly dividend of $0.676, yielding 4.6% annually, with a payout ratio of 68.01%, reflecting its commitment to returning value to shareholders.

Great Lakes Advisors LLC trimmed its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,512 shares of the utilities provider's stock after selling 11,746 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.23% of Black Hills worth $10,160,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BKH. Bank of America Corp DE raised its stake in shares of Black Hills by 203.6% during the 4th quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock worth $29,727,000 after buying an additional 340,686 shares during the period. Captrust Financial Advisors raised its stake in shares of Black Hills by 14.2% during the 4th quarter. Captrust Financial Advisors now owns 6,742 shares of the utilities provider's stock worth $395,000 after buying an additional 838 shares during the period. EP Wealth Advisors LLC raised its stake in shares of Black Hills by 5.9% during the 4th quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock worth $206,000 after buying an additional 197 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Black Hills by 6.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,892 shares of the utilities provider's stock worth $2,334,000 after buying an additional 2,325 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Black Hills by 113.6% during the 4th quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock worth $27,122,000 after buying an additional 246,500 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BKH has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Black Hills in a research note on Tuesday, May 13th. They set an "outperform" rating and a $68.00 target price for the company. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and increased their price objective 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, the stock presently has an average rating of "Hold" and a consensus price target of $66.00.

Black Hills Stock Down 2.1%

BKH stock opened at $58.43 on Tuesday. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 2.77 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. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The firm has a 50-day moving average of $58.60 and a two-hundred day moving average of $58.84.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting analysts' consensus estimates of $0.38. The company had revenue of $439.00 million during the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. Black Hills's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, analysts forecast that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.6%. Black Hills's dividend payout ratio (DPR) is 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.

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