Crawford Investment Counsel Inc. Has $33.99 Million Position in Black Hills Corporation $BKH

Key Points

• Crawford Investment Counsel Inc. increased its stake in Black Hills by 9.4% in the fourth quarter, ending with 489,565 shares worth about $33.99 million.
• Black Hills reported Q1 earnings of $1.79 per share, missing analyst expectations, while revenue of $780.7 million came in above estimates but fell 3% year over year. The company also reaffirmed its FY 2026 guidance of $4.25 to $4.45 EPS.
• The utility company pays a quarterly dividend of $0.703 per share, or $2.81 annually, for a yield of about 3.8%. Meanwhile, analysts remain generally positive, with a consensus rating of Buy and an average price target of $81.17.

Crawford Investment Counsel Inc. grew its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 489,565 shares of the utilities provider's stock after purchasing an additional 41,914 shares during the quarter. Crawford Investment Counsel Inc. owned about 0.65% of Black Hills worth $33,986,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Greenland Capital Management LP lifted its stake in shares of Black Hills by 140.6% in the third quarter. Greenland Capital Management LP now owns 29,573 shares of the utilities provider's stock valued at $1,821,000 after buying an additional 17,280 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Black Hills by 67.7% in the third quarter. JPMorgan Chase & Co. now owns 618,131 shares of the utilities provider's stock valued at $38,071,000 after buying an additional 249,640 shares during the period. Capital Research Global Investors lifted its stake in shares of Black Hills by 38.7% in 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 buying an additional 634,800 shares during the period. Barnett & Company Inc. lifted its stake in shares of Black Hills by 105.8% in the third quarter. Barnett & Company Inc. now owns 28,400 shares of the utilities provider's stock valued at $1,749,000 after buying an additional 14,600 shares during the period. Finally, Horizon Investments LLC lifted its stake in shares of Black Hills by 74.3% in the fourth quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider's stock valued at $2,397,000 after buying an additional 14,716 shares during the period. 86.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the firm's stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director owned 10,886 shares in the company, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by corporate insiders.

Black Hills Stock Down 0.5%

Shares of BKH opened at $73.47 on Wednesday. The stock has a market cap of $5.59 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 2.92 and a beta of 0.72. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a 12 month low of $55.49 and a 12 month high of $78.69. The company has a 50-day moving average price of $73.67 and a two-hundred day moving average price of $72.29.

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

Black Hills Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America upgraded shares of Black Hills from a "neutral" rating to a "buy" rating and increased their target price for the company from $76.00 to $78.00 in a research note on Thursday, June 11th. Oppenheimer set a $78.00 target price on shares of Black Hills in a research note on Thursday, June 11th. Siebert Williams Shank upgraded shares of Black Hills from a "hold" rating to a "buy" rating and increased their target price for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. Weiss Ratings cut shares of Black Hills from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen cut shares of Black Hills from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average price target 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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