Black Hills Corporation $BKH Shares Purchased by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. increased its stake in Black Hills Corporation by 14.0%, holding 69,680 shares valued at approximately $4.23 million after purchasing an additional 8,564 shares in Q1.
• The company reported a net margin of 12.68% and a quarterly revenue increase of 8.9% year-over-year, alongside a consensus EPS estimate of $4.12 for the current fiscal year.
• Black Hills recently declared a quarterly dividend of $0.676 per share, yielding 4.5%, with a payout ratio of 68.01%.

Clark Capital Management Group Inc. boosted its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 14.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,680 shares of the utilities provider's stock after acquiring an additional 8,564 shares during the period. Clark Capital Management Group Inc. owned 0.10% of Black Hills worth $4,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its stake in shares of Black Hills by 1.9% in the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock worth $13,064,000 after buying an additional 4,077 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Black Hills by 15.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider's stock worth $480,000 after acquiring an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC increased its position in Black Hills by 215.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after purchasing an additional 1,125 shares during the period. GAMMA Investing LLC grew its position in Black Hills by 59.2% in the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 225 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Black Hills during the fourth quarter worth about $96,000. 86.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BKH. BMO Capital Markets initiated coverage on Black Hills in a research report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 target price on the stock. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and increased their target price for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Black Hills presently has a consensus rating of "Hold" and a consensus target price of $66.00.

Black Hills Trading Down 0.3%

NYSE BKH traded down $0.15 during mid-day trading on Wednesday, reaching $58.50. 73,409 shares of the stock were exchanged, compared to its average volume of 541,354. The stock has a market cap of $4.26 billion, a P/E ratio of 14.72, a P/E/G ratio of 2.72 and a beta of 0.74. 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 one year low of $54.92 and a one year high of $65.59. The stock has a 50 day simple moving average of $58.63 and a 200-day simple moving average of $58.84.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly 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 net margin of 12.68% and a return on equity of 7.81%. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same period last year, the business earned $0.33 EPS. Black Hills's quarterly revenue was up 8.9% compared to the same quarter last year. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, August 18th. Black Hills's payout ratio is presently 68.01%.

Black Hills Company Profile

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.