California State Teachers Retirement System Sells 2,050 Shares of Black Hills Corporation $BKH

Key Points

• California State Teachers Retirement System reduced its Black Hills position by 2.3%, selling 2,050 shares and retaining 87,420 shares valued at approximately $6.5 million. Institutional investors collectively own 86.71% of the company.
• Black Hills reported quarterly earnings of $0.54 per share, exceeding estimates of $0.41, while revenue reached $452.8 million and rose 3.1% year over year. The company reaffirmed fiscal 2026 EPS guidance of $4.25 to $4.45.
• The utility pays a quarterly dividend of $0.703 per share, equating to an annualized $2.81 dividend and a 4.0% yield. Analysts maintain a consensus “Buy” rating with an average price target of $81.67, versus a recent share price of $70.35.

California State Teachers Retirement System cut its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 2.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,420 shares of the utilities provider's stock after selling 2,050 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Black Hills worth $6,504,048 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Black Hills during the 2nd quarter valued at $928,675,000. Capital Research Global Investors lifted 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Black Hills by 3.0% in the 4th 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 during the period. Cohen & Steers Inc. grew its position in Black Hills by 17.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,385,759 shares of the utilities provider's stock worth $96,199,000 after purchasing an additional 209,135 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Black Hills by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,141,272 shares of the utilities provider's stock worth $79,215,000 after purchasing an additional 18,109 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.

Black Hills Price Performance

Shares of NYSE BKH traded down $0.27 during mid-day trading on Tuesday, reaching $70.35. The company's stock had a trading volume of 501,144 shares, compared to its average volume of 940,776. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. The stock has a 50-day moving average of $73.36 and a two-hundred day moving average of $73.09. Black Hills Corporation has a 1-year low of $58.10 and a 1-year high of $78.69. The stock has a market capitalization of $5.36 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.82 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.13. The firm had revenue of $452.80 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts anticipate that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Monday, August 17th were paid a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. Black Hills's dividend payout ratio (DPR) is presently 70.96%.

Analysts Set New Price Targets

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

About Black Hills

Black Hills Corporation NYSE: BKH is a diversified energy company headquartered in Rapid City, South Dakota. Through its regulated utilities, the company provides electric and natural gas service to residential, commercial, industrial and institutional customers.

Black Hills' electric operations generate, purchase, transmit and distribute electricity through a portfolio that includes coal, natural gas, wind and other energy resources. Its natural gas utilities transport and distribute natural gas, while also operating related storage and pipeline infrastructure.

The company serves communities across several Midwestern and Western states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming.

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