Campbell & CO Investment Adviser LLC Purchases Shares of 96,210 Black Hills Corporation $BKH

Key Points

• Campbell & CO Investment Adviser LLC has acquired a new position in Black Hills Corporation, purchasing 96,210 shares valued at approximately $5.8 million, representing 0.4% of its total holdings.
• The company reported $0.38 EPS, meeting analysts' expectations, and had a revenue of $439 million for the quarter, surpassing estimates of $412.69 million.
• Black Hills has declared a quarterly dividend of $0.676 per share, providing an annual yield of 4.4%, with an ex-dividend date set for August 18th.

Campbell & CO Investment Adviser LLC purchased a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 96,210 shares of the utilities provider's stock, valued at approximately $5,835,000. Black Hills makes up approximately 0.4% of Campbell & CO Investment Adviser LLC's investment portfolio, making the stock its 20th biggest position. Campbell & CO Investment Adviser LLC owned 0.13% of Black Hills as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Journey Strategic Wealth LLC lifted its holdings in Black Hills by 4.1% in the first quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider's stock valued at $265,000 after acquiring an additional 172 shares during the period. Financial Counselors Inc. lifted its holdings in Black Hills by 0.3% in the first quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider's stock valued at $3,286,000 after acquiring an additional 176 shares during the period. Xponance Inc. lifted its holdings in Black Hills by 1.9% in the first quarter. Xponance Inc. now owns 10,218 shares of the utilities provider's stock valued at $620,000 after acquiring an additional 188 shares during the period. EP Wealth Advisors LLC increased its position in Black Hills by 5.9% in the fourth quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock worth $206,000 after buying an additional 197 shares in the last quarter. Finally, State of Michigan Retirement System increased its position in Black Hills by 1.2% in the first quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider's stock worth $1,037,000 after buying an additional 200 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BKH. BMO Capital Markets began coverage on Black Hills in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company. Bank of America upgraded Black Hills from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $66.00.

Black Hills Price Performance

Shares of NYSE:BKH traded up $0.16 during trading on Friday, hitting $59.90. 149,968 shares of the company's stock were exchanged, compared to its average volume of 543,934. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. The business's 50-day simple moving average is $58.14 and its 200 day simple moving average is $58.86. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 2.79 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm had revenue of $439.00 million during the quarter, compared to analysts' expectations of $412.69 million. During the same quarter last year, the business posted $0.33 earnings per share. The firm's revenue was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, equities analysts predict that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, August 18th. Black Hills's dividend payout ratio (DPR) is currently 68.01%.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.