California State Teachers Retirement System Grows Position in Black Hills Corporation $BKH

Key Points

• California State Teachers Retirement System increased its Black Hills stake by 29.5% in the first quarter, acquiring 20,404 additional shares for a total of 89,470 shares valued at approximately $6.21 million. Institutional investors collectively own 86.71% of the company.
• Black Hills reported quarterly EPS of $0.54, exceeding analyst expectations of $0.41, while revenue of $452.8 million fell short of the $490.89 million estimate. The company maintained 2026 EPS guidance of $4.25–$4.45.
• The company declared a quarterly dividend of $0.703 per share, equivalent to an annualized $2.81 payout and a 3.9% dividend yield. Analysts maintain a consensus “Buy” rating with an average price target of $81.67.

California State Teachers Retirement System lifted its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 29.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,470 shares of the utilities provider's stock after buying an additional 20,404 shares during the period. California State Teachers Retirement System owned about 0.12% of Black Hills worth $6,210,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of Black Hills in the third quarter valued at about $45,000. First Horizon Corp increased its holdings in Black Hills by 192.8% during the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider's stock worth $54,000 after purchasing an additional 509 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Black Hills by 47.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider's stock worth $59,000 after buying an additional 274 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Black Hills in the 1st quarter valued at $67,000. Finally, Geneos Wealth Management Inc. raised its stake in Black Hills by 44.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider's stock valued at $58,000 after buying an additional 317 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of Black Hills 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 completion of the sale, the director directly owned 10,886 shares of the company's stock, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

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

Black Hills Trading Down 1.0%

BKH stock opened at $71.55 on Thursday. Black Hills Corporation has a fifty-two week low of $58.06 and a fifty-two week high of $78.69. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 2.86 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The business has a fifty day moving average price of $73.33 and a 200 day moving average price of $73.11.

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 the consensus estimate of $0.41 by $0.13. The business had revenue of $452.80 million for the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The firm's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts expect that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. Black Hills's payout ratio is 73.18%.

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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