Eisler Capital Management Ltd. Makes New Investment in Black Hills Corporation $BKH

Key Points

• Eisler Capital Management Ltd. has acquired a new stake of 8,759 shares in Black Hills Corporation, valued at approximately $532,000.
• Black Hills received a ratings upgrade from Bank of America, changing its rating from "underperform" to "neutral," with a new price target of $64.00.
• The company's quarterly earnings met analysts' expectations with an EPS of $0.38 and it reported a 4.5% annualized dividend yield, set to pay $0.676 per share.

Eisler Capital Management Ltd. bought a new stake in Black Hills Corporation (NYSE:BKH - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,759 shares of the utilities provider's stock, valued at approximately $532,000.

Other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in Black Hills by 1.9% in the first quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock valued at $13,064,000 after purchasing an additional 4,077 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Black Hills by 15.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider's stock valued at $480,000 after purchasing an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Black Hills by 215.5% in the first 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 in the last quarter. GAMMA Investing LLC raised its stake in Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in Black Hills in the fourth quarter valued at about $96,000. Institutional investors own 86.71% of the company's stock.

Analyst Ratings Changes

BKH has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and boosted their price target for the company 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Black Hills presently has an average rating of "Hold" and an average price target of $66.00.

Black Hills Trading Up 0.0%

Shares of Black Hills stock traded up $0.02 on Monday, hitting $59.76. The stock had a trading volume of 565,326 shares, compared to its average volume of 780,736. The stock has a 50 day moving average of $58.22 and a 200 day moving average of $58.84. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64. The firm has a market capitalization of $4.35 billion, a P/E ratio of 15.05, a PEG ratio of 2.77 and a beta of 0.74.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The business had revenue of $439.00 million for the quarter, compared to analysts' expectations of $412.69 million. During the same period in the prior year, the business posted $0.33 earnings per share. The firm's revenue was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Sell-side analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.676 dividend. The ex-dividend date is Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.5%. Black Hills's dividend payout ratio is presently 68.01%.

About Black Hills

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.