Engineers Gate Manager LP Increases Stock Holdings in Black Hills Corporation $BKH

Key Points

• Engineers Gate Manager LP sharply increased its stake in Black Hills Corp., boosting holdings by 17,790.3% in the fourth quarter to 849,073 shares worth about $58.9 million.
• Black Hills reported mixed quarterly results, with earnings per share of $1.79 missing estimates while revenue of $780.7 million came in slightly above expectations.
• The company continues to draw bullish analyst sentiment, with a consensus Buy rating and a price target of $81.17, while also paying a quarterly dividend yielding about 3.9%.

Engineers Gate Manager LP boosted its position in Black Hills Corporation (NYSE:BKH - Free Report) by 17,790.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 849,073 shares of the utilities provider's stock after purchasing an additional 844,327 shares during the period. Black Hills comprises 0.7% of Engineers Gate Manager LP's portfolio, making the stock its 20th biggest holding. Engineers Gate Manager LP owned about 1.13% of Black Hills worth $58,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in Black Hills by 132.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider's stock worth $35,000 after purchasing an additional 328 shares during the period. Advisory Services Network LLC bought a new position in Black Hills in the 3rd quarter worth $45,000. First Horizon Corp raised its holdings in Black Hills by 192.8% in the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider's stock worth $54,000 after purchasing an additional 509 shares during the period. Clearstead Advisors LLC raised its holdings in Black Hills by 884.8% in the 3rd quarter. Clearstead Advisors LLC now owns 778 shares of the utilities provider's stock worth $48,000 after purchasing an additional 699 shares during the period. Finally, Geneos Wealth Management Inc. raised its holdings in Black Hills by 44.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider's stock worth $58,000 after purchasing an additional 317 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares in the company, valued at $807,958.92. This represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is owned by insiders.

Black Hills Stock Performance

Shares of NYSE BKH opened at $72.17 on Thursday. The firm has a fifty day moving average price of $73.69 and a 200-day moving average price of $72.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. The stock has a market cap of $5.49 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.91 and a beta of 0.72. Black Hills Corporation has a 1 year low of $55.50 and a 1 year high of $78.69.

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). The firm had revenue of $780.70 million during the quarter, compared to analysts' expectations of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The business's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period last year, the company earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts anticipate that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

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 $0.703 dividend. This represents a $2.81 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, May 15th. Black Hills's dividend payout ratio is presently 73.18%.

Wall Street Analyst Weigh In

BKH has been the topic of a number of recent research reports. LADENBURG THALM/SH SH initiated coverage on Black Hills in a report on Wednesday, April 1st. They issued a "buy" rating and a $77.00 target price on the stock. Wall Street Zen cut Black Hills from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Bank of America raised Black Hills from a "neutral" rating to a "buy" rating and raised their target price for the stock from $76.00 to $78.00 in a report on Thursday, June 11th. Oppenheimer set a $78.00 target price on Black Hills in a report on Thursday, June 11th. Finally, Siebert Williams Shank raised shares of Black Hills from a "hold" rating to a "buy" rating and increased their price objective for the stock from $79.00 to $82.00 in a research note on Thursday, March 12th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $81.17.

Black Hills Company 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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