Citigroup Inc. Reduces Stock Holdings in Black Hills Corporation $BKH

Key Points

• Citigroup cut its stake in Black Hills by 28.5% in Q3, selling 18,525 shares and ending the period with 46,465 shares worth about $2.86 million.
• Other institutions were active: ProShare Advisors increased its stake to 736,014 shares, Paradiem boosted holdings by 858.5% to 234,833 shares, and overall institutional ownership stands at 86.71%.
• Black Hills beat quarterly EPS estimates, set FY2026 guidance of $4.25–4.45 per share, and raised its quarterly dividend to $0.703 (a 3.8% yield), while analysts maintain a consensus "Moderate Buy" with a $76.33 price target.

Citigroup Inc. lessened its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 28.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,465 shares of the utilities provider's stock after selling 18,525 shares during the period. Citigroup Inc. owned approximately 0.06% of Black Hills worth $2,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC grew its stake in Black Hills by 10.8% during the 3rd quarter. ProShare Advisors LLC now owns 736,014 shares of the utilities provider's stock valued at $45,331,000 after acquiring an additional 71,963 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Black Hills by 84.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,944 shares of the utilities provider's stock worth $976,000 after purchasing an additional 7,314 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Black Hills during the 3rd quarter worth approximately $1,354,000. Paradiem LLC boosted its holdings in shares of Black Hills by 858.5% during the 3rd quarter. Paradiem LLC now owns 234,833 shares of the utilities provider's stock worth $14,463,000 after purchasing an additional 210,333 shares during the last quarter. Finally, Polaris Capital Management LLC purchased a new stake in shares of Black Hills in the third quarter valued at approximately $2,242,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Trading Down 1.1%

NYSE BKH opened at $73.48 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.35 and a quick ratio of 1.11. The stock has a market capitalization of $5.55 billion, a P/E ratio of 18.46, a PEG ratio of 2.93 and a beta of 0.75. The firm's 50-day moving average is $72.50 and its two-hundred day moving average is $67.51. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $75.87.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The utilities provider reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.37 by $0.04. Black Hills had a return on equity of 7.95% and a net margin of 12.62%.The firm's revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.37 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts anticipate that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th were paid a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. This is a positive change from Black Hills's previous quarterly dividend of $0.68. The ex-dividend date was Tuesday, February 17th. Black Hills's payout ratio is presently 70.60%.

Analysts Set New Price Targets

A number of brokerages recently commented on BKH. Wall Street Zen upgraded Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday. Scotiabank raised Black Hills from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $66.00 to $81.00 in a research note on Friday, November 7th. BMO Capital Markets lifted their price target on Black Hills from $82.00 to $84.00 and gave the stock an "outperform" rating in a report on Monday, February 9th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Black Hills in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.33.

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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