Deutsche Bank AG Cuts Position in Black Hills Corporation $BKH

Key Points

• Deutsche Bank AG reduced its holdings in Black Hills Corporation by 12.6% during the first quarter, now owning 157,625 shares valued at approximately $9.56 million.
• The company reported $0.38 EPS for the most recent quarter, matching analysts' expectations, with revenues of $439 million, up 8.9% year-over-year.
• Black Hills Corporation has declared a quarterly dividend of $0.676 per share, yielding about 4.4%, with an ex-dividend date set for August 18th.

Deutsche Bank AG lowered its position in Black Hills Corporation (NYSE:BKH - Free Report) by 12.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,625 shares of the utilities provider's stock after selling 22,629 shares during the period. Deutsche Bank AG owned about 0.22% of Black Hills worth $9,560,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. First Trust Advisors LP increased its position 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 buying an additional 720,628 shares in the last quarter. Bank of America Corp DE increased its position in 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 worth $29,727,000 after buying an additional 340,686 shares in the last quarter. Capital Research Global Investors increased its position 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 buying an additional 326,959 shares in the last quarter. Millennium Management LLC increased its position in Black Hills by 113.6% in the fourth 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 in the last quarter. Finally, Bessemer Group Inc. increased its position in Black Hills by 38,974.6% in the first quarter. Bessemer Group Inc. now owns 218,818 shares of the utilities provider's stock worth $13,272,000 after buying an additional 218,258 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Black Hills Trading Up 1.0%

BKH stock traded up $0.5850 during midday trading on Tuesday, reaching $60.9350. 833,987 shares of the company traded hands, compared to its average volume of 533,650. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64. The business has a 50 day moving average of $57.58 and a 200-day moving average of $58.81. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 2.85 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting analysts' consensus estimates of $0.38. The firm had revenue of $439.00 million for 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%.The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, sell-side analysts expect 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 will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, August 18th. Black Hills's dividend payout ratio (DPR) is 68.01%.

Analyst Upgrades and Downgrades

Separately, BMO Capital Markets began coverage on Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

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.