Capital Financial Group Inc. Co. ADV Takes $1.52 Million Position in Black Hills Corporation $BKH

Key Points

• Capital Financial Group Inc. Co. ADV opened a new position in Black Hills Corporation during the fourth quarter, buying 21,950 shares worth about $1.52 million.
• Several other institutional investors also increased their stakes, and institutions now own 86.71% of Black Hills’ shares. Insider activity included Director Robert P. Otto selling 4,109 shares in late May.
• Analysts remain broadly positive on the utility, with a consensus Buy rating and average price target of $81.17. Black Hills recently reported earnings that missed EPS estimates but beat revenue expectations, and it continues to pay a quarterly dividend yielding about 3.8%.

Capital Financial Group Inc. Co. ADV acquired a new stake in Black Hills Corporation (NYSE:BKH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,950 shares of the utilities provider's stock, valued at approximately $1,524,000.

Other hedge funds also recently bought and sold shares of the company. Greenland Capital Management LP boosted its position in Black Hills by 140.6% during the third quarter. Greenland Capital Management LP now owns 29,573 shares of the utilities provider's stock valued at $1,821,000 after purchasing an additional 17,280 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Black Hills by 67.7% during the third quarter. JPMorgan Chase & Co. now owns 618,131 shares of the utilities provider's stock valued at $38,071,000 after purchasing an additional 249,640 shares in the last quarter. Capital Research Global Investors boosted 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. Barnett & Company Inc. boosted its position in Black Hills by 105.8% during the third quarter. Barnett & Company Inc. now owns 28,400 shares of the utilities provider's stock valued at $1,749,000 after purchasing an additional 14,600 shares in the last quarter. Finally, Horizon Investments LLC boosted its position in Black Hills by 74.3% during the fourth quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider's stock valued at $2,397,000 after purchasing an additional 14,716 shares in the last quarter. Institutional investors own 86.71% of the company's stock.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the sale, the director owned 10,886 shares in the company, valued at approximately $807,958.92. The trade was a 27.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. LADENBURG THALM/SH SH assumed coverage on Black Hills in a research report on Wednesday, April 1st. They set a "buy" rating and a $77.00 price objective on the stock. Siebert Williams Shank upgraded Black Hills from a "hold" rating to a "buy" rating and increased their price target for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. BMO Capital Markets increased their price target on Black Hills from $84.00 to $91.00 and gave the company an "outperform" rating in a research note on Wednesday, April 15th. Bank of America upgraded Black Hills from a "neutral" rating to a "buy" rating and increased their price target for the company from $76.00 to $78.00 in a research note on Thursday, June 11th. Finally, Weiss Ratings lowered Black Hills from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $81.17.

Black Hills Price Performance

NYSE:BKH opened at $73.55 on Tuesday. Black Hills Corporation has a 52 week low of $55.49 and a 52 week high of $78.69. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.60 billion, a P/E ratio of 19.15, a P/E/G ratio of 2.91 and a beta of 0.72. The stock's fifty day moving average is $73.61 and its two-hundred day moving average is $72.28.

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

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Friday, May 15th. Black Hills's payout ratio is currently 73.18%.

About Black Hills

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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