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. lowered its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 0.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,321,939 shares of the utilities provider's stock after selling 6,913 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 1.83% of Black Hills worth $80,176,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of BKH. Nuveen LLC acquired a new position in Black Hills in the 1st quarter valued at about $43,690,000. First Trust Advisors LP increased its holdings in shares of Black Hills by 309.5% during the fourth quarter. First Trust Advisors LP now owns 953,431 shares of the utilities provider's stock worth $55,795,000 after purchasing an additional 720,628 shares during the period. Bank of America Corp DE increased its holdings in shares of Black Hills by 203.6% during the fourth quarter. Bank of America Corp DE now owns 507,986 shares of the utilities provider's stock worth $29,727,000 after purchasing an additional 340,686 shares during the period. Capital Research Global Investors increased its holdings in shares of Black Hills by 21.5% during the fourth quarter. Capital Research Global Investors now owns 1,845,088 shares of the utilities provider's stock worth $107,975,000 after purchasing an additional 326,959 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Black Hills by 113.6% during the fourth quarter. Millennium Management LLC now owns 463,459 shares of the utilities provider's stock worth $27,122,000 after purchasing an additional 246,500 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Price Performance

Shares of NYSE BKH traded up $1.2310 during trading hours on Friday, hitting $60.9510. 608,117 shares of the stock were exchanged, compared to its average volume of 826,085. 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 company has a market cap of $4.44 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.71. The company's fifty day simple moving average is $57.82 and its two-hundred day simple moving average is $58.83. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59.

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

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.676 per share. The ex-dividend date is Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.4%. Black Hills's dividend payout ratio (DPR) is currently 68.01%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Bank of America raised shares of Black Hills from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $57.00 to $64.00 in a report on Wednesday. BMO Capital Markets assumed coverage on shares of Black Hills in a report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and two have assigned 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 price target of $66.00.

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.