Cohen & Steers Inc. Buys 209,135 Shares of Black Hills Corporation $BKH

Key Points

• Cohen & Steers Inc. increased its stake in Black Hills by 17.8% in the fourth quarter, adding 209,135 shares to reach 1.39 million shares valued at about $96.2 million.
• Black Hills reported quarterly EPS of $1.79, missing analyst expectations, while revenue of $780.7 million came in slightly above estimates. The company also reiterated FY2026 guidance of $4.25 to $4.45 EPS.
• The utility continues to appeal to income investors, paying a quarterly dividend of $0.703 per share, or $2.81 annually, for a yield of about 3.8%. Analysts currently have a consensus Buy rating with a target price of $81.17.

Cohen & Steers Inc. boosted its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,385,759 shares of the utilities provider's stock after acquiring an additional 209,135 shares during the period. Cohen & Steers Inc. owned 1.84% of Black Hills worth $96,199,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in shares of Black Hills by 132.3% in the third quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 328 shares during the period. Advisory Services Network LLC bought a new stake in shares of Black Hills in the third quarter valued at approximately $45,000. Clearstead Advisors LLC raised its position in shares of Black Hills by 884.8% in the third quarter. Clearstead Advisors LLC now owns 778 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 699 shares during the period. First Horizon Corp raised its position in shares of Black Hills by 192.8% in the fourth quarter. First Horizon Corp now owns 773 shares of the utilities provider's stock valued at $54,000 after purchasing an additional 509 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in shares of Black Hills by 44.0% in the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 317 shares during the period. Institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

Shares of Black Hills stock opened at $73.36 on Friday. Black Hills Corporation has a 52-week low of $55.49 and a 52-week high of $78.69. The stock has a market capitalization of $5.58 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 2.84 and a beta of 0.72. The company has a fifty day moving average of $73.56 and a 200-day moving average of $72.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65.

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

Black Hills Announces Dividend

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

Insider Activity

In other news, Director Robert P. Otto sold 4,109 shares of the company's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the sale, the director owned 10,886 shares of the company's stock, valued at approximately $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company's stock.

Wall Street Analysts Forecast Growth

BKH has been the topic of several research reports. Weiss Ratings lowered shares of Black Hills from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. BMO Capital Markets boosted their price target on shares of Black Hills from $84.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, April 15th. Oppenheimer set a $78.00 target price on shares of Black Hills in a report on Thursday. Wall Street Zen lowered shares of Black Hills from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Finally, Siebert Williams Shank raised shares of Black Hills from a "hold" rating to a "buy" rating and upped their target price for the stock from $79.00 to $82.00 in a report on Thursday, March 12th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $81.17.

Black Hills Profile

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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