Empowered Funds LLC Acquires Shares of 25,712 Black Hills Corporation $BKH

Key Points

• Empowered Funds LLC acquired 25,712 shares of Black Hills Corporation valued at approximately $1.91 million. Institutional investors collectively own 86.71% of the utility company.
• Analysts maintain a favorable outlook, with six analysts rating Black Hills a Buy and a consensus price target of $81.67.
• Black Hills reported quarterly EPS of $0.54, exceeding estimates of $0.41, while revenue rose 3.1% year over year. The company also pays an annualized dividend of $2.81 per share, yielding about 3.8%.

Empowered Funds LLC acquired a new position in Black Hills Corporation (NYSE:BKH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,712 shares of the utilities provider's stock, valued at approximately $1,913,000.

Several other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Black Hills by 7.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,798 shares of the utilities provider's stock valued at $2,596,000 after buying an additional 2,906 shares during the period. NewEdge Advisors LLC lifted its holdings in Black Hills by 83.2% in the first quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider's stock worth $203,000 after buying an additional 1,519 shares during the period. Jones Financial Companies Lllp lifted its holdings in Black Hills by 37.8% in the first quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider's stock worth $184,000 after buying an additional 834 shares during the period. United Services Automobile Association bought a new stake in Black Hills during the 1st quarter valued at approximately $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Black Hills by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider's stock valued at $8,168,000 after acquiring an additional 7,332 shares in the last quarter. 86.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BKH. Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. BMO Capital Markets dropped their price target on Black Hills from $86.00 to $85.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th. Oppenheimer set a $78.00 price target on Black Hills in a research note on Thursday, June 11th. Finally, Bank of America increased their price objective on Black Hills from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Black Hills presently has a consensus rating of "Buy" and a consensus price target of $81.67.

Black Hills Price Performance

Shares of BKH opened at $73.16 on Friday. Black Hills Corporation has a fifty-two week low of $58.06 and a fifty-two week high of $78.69. The firm's 50-day simple moving average is $73.59 and its two-hundred day simple moving average is $73.13. The stock has a market cap of $5.58 billion, a PE ratio of 18.47, a price-to-earnings-growth ratio of 2.87 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The firm had revenue of $452.80 million during the quarter, compared to analyst estimates of $490.89 million. During the same period last year, the business earned $0.38 earnings per share. The business's revenue was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts anticipate that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a dividend of $0.703 per share. The ex-dividend date was Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. Black Hills's payout ratio is presently 70.96%.

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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