California Public Employees Retirement System Sells 22,838 Shares of Black Hills Corporation $BKH

California Public Employees Retirement System cut its stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 180,499 shares of the utilities provider's stock after selling 22,838 shares during the period. California Public Employees Retirement System owned 0.24% of Black Hills worth $12,528,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors raised its position in 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 valued at $157,995,000 after purchasing an additional 634,800 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Black Hills by 6,416.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,752 shares of the utilities provider's stock valued at $10,812,000 after buying an additional 153,362 shares during the last quarter. BW Gestao de Investimentos Ltda. acquired a new position in shares of Black Hills in the 4th quarter worth approximately $5,985,000. UBS Group AG boosted its position in Black Hills by 86.5% during the fourth quarter. UBS Group AG now owns 572,227 shares of the utilities provider's stock valued at $39,724,000 after acquiring an additional 265,464 shares during the last quarter. Finally, Horizon Investments LLC lifted its stake in Black Hills by 74.3% in the fourth quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider's stock valued at $2,397,000 after buying an additional 14,716 shares during the period. Institutional investors own 86.71% of the company's stock.

Insider Activity at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the sale, the director directly owned 10,886 shares of the company's stock, valued at $807,958.92. The trade was a 27.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.56% of the company's stock.

Black Hills Price Performance

Shares of NYSE:BKH opened at $75.23 on Friday. The firm's 50 day moving average price is $73.57 and its 200-day moving average price is $73.01. The stock has a market capitalization of $5.73 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.97 and a beta of 0.71. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a twelve month low of $55.79 and a twelve month high of $78.69.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.79 EPS for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). The firm had revenue of $780.70 million for the quarter, compared to the consensus estimate of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.Black Hills's revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts expect that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were given a $0.703 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, May 15th. Black Hills's payout ratio is currently 73.18%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKH. LADENBURG THALM/SH SH assumed coverage on Black Hills in a research note on Wednesday, April 1st. They issued a "buy" rating and a $77.00 target price for the company. BMO Capital Markets lowered their target price on Black Hills from $86.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday. Oppenheimer set a $78.00 price objective on shares of Black Hills in a report on Thursday, June 11th. Bank of America boosted their target price on shares of Black Hills from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Finally, Wall Street Zen lowered shares of Black Hills from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $81.67.

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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