BlackRock Inc. Purchases Shares of 12,482,189 Black Hills Corporation $BKH

Key Points

• BlackRock acquired 12.48 million shares of Black Hills Corporation in the second quarter, valued at approximately $928.7 million and representing a 16.4% stake. Institutional investors collectively own 86.71% of the utility company.
• Black Hills reported quarterly EPS of $0.54, beating the $0.41 analyst consensus, while revenue rose 3.1% year over year to $452.8 million but fell short of estimates. The company reaffirmed fiscal 2026 EPS guidance of $4.25–$4.45.
• Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an $81.67 price target versus the stock’s $71.71 opening price. Black Hills also declared a quarterly dividend of $0.703 per share, implying a 3.9% yield.

BlackRock Inc. acquired a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,482,189 shares of the utilities provider's stock, valued at approximately $928,675,000. BlackRock Inc. owned about 16.40% of Black Hills as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of BKH. State Street Corp increased its holdings in Black Hills by 0.8% in the second quarter. State Street Corp now owns 3,841,615 shares of the utilities provider's stock valued at $215,515,000 after buying an additional 31,093 shares in the last quarter. Capital Research Global Investors increased its position in shares of Black Hills by 38.7% during the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider's stock worth $157,995,000 after purchasing an additional 634,800 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Black Hills by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider's stock worth $131,548,000 after buying an additional 55,232 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its position in Black Hills by 176.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider's stock worth $110,517,000 after acquiring an additional 1,017,000 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Black Hills by 3.2% during the fourth quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider's stock worth $98,464,000 after acquiring an additional 44,334 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the sale, the director owned 10,886 shares in the company, valued at $807,958.92. This represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

BKH has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on shares of Black Hills from $86.00 to $85.00 and set an "outperform" rating for the company in a report on Wednesday, July 22nd. Weiss Ratings upgraded Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Bank of America boosted their price target on shares of Black Hills from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Finally, Oppenheimer set a $78.00 target price on shares of Black Hills in a research note on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $81.67.

Black Hills Stock Down 2.2%

Shares of NYSE BKH opened at $71.71 on Friday. The stock has a market cap of $5.47 billion, a P/E ratio of 18.11, a PEG ratio of 2.84 and a beta of 0.71. The business's fifty day simple moving average is $73.69 and its 200-day simple moving average is $73.15. Black Hills Corporation has a 12-month low of $58.06 and a 12-month high of $78.69. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The company had revenue of $452.80 million during the quarter, compared to the consensus estimate of $490.89 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm's quarterly revenue was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts predict that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 17th. Black Hills's dividend payout ratio is presently 70.96%.

Black Hills Company Profile

Black Hills Corporation is a diversified energy company based in Rapid City, South Dakota, that provides electricity and natural gas distribution services to residential, commercial and industrial customers. Through its regulated utility subsidiaries—Black Hills Power, Cheyenne Light & Power, and Black Hills Energy—the company delivers reliable energy across Colorado, Kansas, Montana, Nebraska, South Dakota and Wyoming.

In addition to its distribution operations, Black Hills owns and operates a generation portfolio that includes natural gas–fired plants, coal-fired units, hydroelectric facilities and wind projects.

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