Fuller & Thaler Asset Management Inc. Sells 6,913 Shares of Black Hills Corporation $BKH

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its holdings in Black Hills Corporation by 0.5% to approximately 1.32 million shares, valued at about $80.18 million.
• Other institutional investors, including Principal Financial Group Inc. and Wealth Enhancement Advisory Services LLC, have also adjusted their stakes in Black Hills, with some increasing their investments significantly.
• Black Hills has announced a quarterly dividend of $0.676, representing a dividend yield of 4.5%, with a payout ratio of 68.01%.

Fuller & Thaler Asset Management Inc. reduced its stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,321,939 shares of the utilities provider's stock after selling 6,913 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 1.83% of Black Hills worth $80,176,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BKH. Wells Fargo & Company MN grew its holdings in Black Hills by 17.5% during the fourth quarter. Wells Fargo & Company MN now owns 65,199 shares of the utilities provider's stock valued at $3,815,000 after purchasing an additional 9,725 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Black Hills by 60.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 54,088 shares of the utilities provider's stock worth $3,165,000 after purchasing an additional 20,321 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Black Hills in the 4th quarter valued at $8,413,000. Townsquare Capital LLC bought a new stake in shares of Black Hills in the 4th quarter valued at $364,000. Finally, Mariner LLC raised its stake in Black Hills by 17.2% during the 4th quarter. Mariner LLC now owns 28,372 shares of the utilities provider's stock worth $1,660,000 after buying an additional 4,169 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BKH shares. BMO Capital Markets assumed coverage on Black Hills in a research note on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 target price for the company. Bank of America upgraded Black Hills from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $57.00 to $64.00 in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $66.00.

Black Hills Stock Up 2.1%

Shares of BKH traded up $1.2310 during midday trading on Friday, hitting $60.9510. The stock had a trading volume of 608,117 shares, compared to its average volume of 822,122. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 2.77 and a beta of 0.71. The company has a 50 day simple moving average of $57.82 and a two-hundred day simple moving average of $58.85. 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 current ratio of 0.64 and a quick ratio of 0.49.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $412.69 million. During the same period last year, the company earned $0.33 earnings per share. Black Hills's quarterly 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. On average, analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current 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 given a $0.676 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.4%. Black Hills's payout ratio is currently 68.01%.

Black Hills Company Profile

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.