Hotchkis & Wiley Capital Management LLC Sells 4,255 Shares of Black Hills Corporation $BKH

Key Points

• Hotchkis & Wiley Capital Management LLC has decreased its stake in Black Hills Corporation by 1.0%, now owning approximately $25.27 million worth of shares, totaling 416,715.
• Black Hills Corporation has reported a 12-month revenue increase of 8.9%, with earnings per share matching analysts' estimates at $0.38 for the last quarter.
• The company has announced a quarterly dividend of $0.676, equating to an annualized dividend yield of 4.4%, payable on September 2nd.

Hotchkis & Wiley Capital Management LLC reduced its position in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416,715 shares of the utilities provider's stock after selling 4,255 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.58% of Black Hills worth $25,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BKH. Nuveen LLC bought a new position in Black Hills during the 1st quarter valued at $43,690,000. Bank of America Corp DE increased its holdings in shares of Black Hills by 203.6% in the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock valued at $29,727,000 after buying an additional 340,686 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Black Hills by 113.6% in the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock valued at $27,122,000 after buying an additional 246,500 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Black Hills by 38,974.6% in the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider's stock valued at $13,272,000 after buying an additional 218,258 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Black Hills in the first quarter valued at $7,955,000. 86.71% of the stock is owned by institutional investors.

Black Hills Stock Up 0.1%

Black Hills stock traded up $0.05 during mid-day trading on Friday, hitting $59.79. 134,907 shares of the company's stock were exchanged, compared to its average volume of 543,865. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The stock has a market cap of $4.36 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.79 and a beta of 0.71. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59. The stock has a 50 day moving average of $58.14 and a two-hundred day moving average of $58.86.

Black Hills (NYSE:BKH - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm had revenue of $439.00 million for 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%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.676 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.5%. Black Hills's payout ratio is currently 68.01%.

Analyst Upgrades and Downgrades

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

About Black Hills

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.