BTG Pactual Asset Management US LLC Cuts Stock Position in Black Hills Corporation $BKH

Key Points

• BTG Pactual Asset Management US LLC cut its Black Hills position by 61.5% in the second quarter, selling 25,206 shares and retaining 15,795 shares valued at approximately $1.18 million. Institutional investors collectively own 86.71% of the company.
• Black Hills reported quarterly EPS of $0.54, exceeding analysts’ $0.41 estimate, while revenue of $452.8 million fell short of expectations but increased 3.1% year over year. The company maintained fiscal 2026 EPS guidance of $4.25–$4.45.
• The utility announced a quarterly dividend of $0.703 per share, representing a 3.9% annualized yield. Analysts maintain a consensus “Buy” rating with an average price target of $81.67, compared with a recent share price of $71.72.

BTG Pactual Asset Management US LLC decreased its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 61.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,795 shares of the utilities provider's stock after selling 25,206 shares during the quarter. BTG Pactual Asset Management US LLC's holdings in Black Hills were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its position in Black Hills by 4.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,342 shares of the utilities provider's stock worth $232,000 after acquiring an additional 137 shares in the last quarter. Meeder Advisory Services Inc. grew its holdings in Black Hills by 1.6% during the 4th quarter. Meeder Advisory Services Inc. now owns 9,192 shares of the utilities provider's stock valued at $638,000 after purchasing an additional 145 shares in the last quarter. Van ECK Associates Corp grew its holdings in Black Hills by 0.6% during the 3rd quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider's stock valued at $1,614,000 after purchasing an additional 154 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Black Hills by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider's stock worth $105,000 after buying an additional 156 shares during the period. Finally, Concurrent Investment Advisors LLC increased its stake in Black Hills by 4.6% during the 4th quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider's stock worth $266,000 after buying an additional 168 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Shares of NYSE BKH opened at $71.72 on Tuesday. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99. The firm's 50-day moving average price is $73.68 and its two-hundred day moving average price is $73.15. Black Hills Corporation has a 52-week low of $58.06 and a 52-week high of $78.69. The stock has a market capitalization of $5.47 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.88 and a beta of 0.71.

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

Black Hills Announces Dividend

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

Analysts Set New Price Targets

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

Black Hills 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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