Invesco Ltd. Cuts Stock Position in Black Hills Corporation $BKH

Key Points

• Invesco Ltd. reduced its holdings in Black Hills Corporation by 3.4% during the 1st quarter, owning about 1.11% of the company valued at $48.67 million after selling 28,611 shares.
• Black Hills reported a net margin of 12.68% and revenue of $439 million for the most recent quarter, surpassing analyst estimates.
• The company announced a quarterly dividend of $0.676 per share, translating to an annual yield of 4.4%, with the dividend payable on September 2nd.

Invesco Ltd. lessened its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 802,545 shares of the utilities provider's stock after selling 28,611 shares during the quarter. Invesco Ltd. owned 1.11% of Black Hills worth $48,674,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Black Hills by 0.4% in the first quarter. Vanguard Group Inc. now owns 8,634,076 shares of the utilities provider's stock worth $523,657,000 after acquiring an additional 31,853 shares in the last quarter. Capital Research Global Investors boosted its holdings in Black Hills by 21.5% in the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock worth $107,975,000 after acquiring an additional 326,959 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Black Hills by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,037,622 shares of the utilities provider's stock worth $60,721,000 after acquiring an additional 37,487 shares in the last quarter. Northern Trust Corp boosted its holdings in Black Hills by 11.6% in the fourth quarter. Northern Trust Corp now owns 1,016,477 shares of the utilities provider's stock worth $59,484,000 after acquiring an additional 105,608 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Black Hills by 309.5% in the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock worth $55,795,000 after acquiring an additional 720,628 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BKH shares. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $57.00 to $64.00 in a report on Wednesday. BMO Capital Markets began coverage on Black Hills in a report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $66.00.

Black Hills Stock Performance

Shares of Black Hills stock traded up $1.16 on Friday, reaching $60.88. 123,505 shares of the stock were exchanged, compared to its average volume of 542,939. 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 Corporation has a twelve month low of $54.92 and a twelve month high of $65.59. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 2.78 and a beta of 0.71. The business has a 50 day moving average price of $57.74 and a two-hundred day moving average price of $58.84.

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

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a $0.676 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.4%. Black Hills's payout ratio is 68.01%.

Black Hills 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.