Hennessy Advisors Inc. Grows Stock Position in Black Hills Corporation $BKH

Key Points

• Hennessy Advisors Inc. increased its stake in Black Hills Corporation by 19.4% during the second quarter, acquiring an additional 8,700 shares, bringing their total ownership to approximately 0.07% of the company, valued at about $3 million.
• Black Hills Corporation reported earnings of $0.38 per share for the last quarter, meeting analysts' expectations, and recorded a revenue of $439 million, surpassing the projected $412.69 million.
• Bank of America upgraded Black Hills' rating from "underperform" to "neutral" and raised its target price from $57.00 to $64.00, while market expectations set the company's EPS target for FY 2025 at around 4.12.

Hennessy Advisors Inc. raised its position in Black Hills Corporation (NYSE:BKH - Free Report) by 19.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,647 shares of the utilities provider's stock after buying an additional 8,700 shares during the quarter. Hennessy Advisors Inc. owned about 0.07% of Black Hills worth $3,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IMA Advisory Services Inc. bought a new stake in Black Hills in the 1st quarter valued at about $30,000. Clearstead Trust LLC purchased a new position in shares of Black Hills in the first quarter worth about $30,000. GAMMA Investing LLC raised its position in shares of 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 during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Black Hills during the 2nd quarter valued at approximately $43,000. Finally, Hilltop National Bank bought a new position in Black Hills in the 2nd quarter worth approximately $50,000. Institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

NYSE:BKH opened at $60.14 on Friday. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 2.79 and a beta of 0.73. 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 stock has a fifty day moving average of $59.61 and a 200 day moving average of $58.74. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share 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 firm had revenue of $439.00 million for the quarter, compared to analysts' expectations of $412.69 million. During the same quarter last year, the firm posted $0.33 EPS. The company's revenue was up 8.9% compared to the same quarter last year. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, research analysts expect that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 18th. Black Hills's payout ratio is currently 68.01%.

Analyst Ratings Changes

BKH has been the topic of a number of analyst reports. Bank of America raised shares of Black Hills from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $57.00 to $64.00 in a report on Wednesday, August 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Black Hills in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price 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.

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