Hsbc Holdings PLC Acquires 24,419 Shares of Black Hills Corporation $BKH

Key Points

• HSBC Holdings PLC sharply increased its stake in Black Hills Corporation, buying 24,419 additional shares in the first quarter and boosting its holdings by 336% to 31,687 shares worth about $2.18 million.
• Black Hills reported mixed quarterly results, with earnings of $1.79 per share missing estimates while revenue of $780.7 million came in above expectations. The company also reaffirmed full-year guidance of 4.25 to 4.45 EPS for FY 2026.
• The utility continues to attract mostly bullish Wall Street sentiment, with six analysts rating it a Buy and a consensus price target of $81.67. Black Hills also paid a quarterly dividend of $0.703 per share, implying an annualized yield of 3.7%.

Hsbc Holdings PLC lifted its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 336.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,687 shares of the utilities provider's stock after buying an additional 24,419 shares during the quarter. Hsbc Holdings PLC's holdings in Black Hills were worth $2,175,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BKH. Zimmer Partners LP lifted its position in shares of Black Hills by 2,100.0% during the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider's stock worth $67,750,000 after acquiring an additional 1,050,020 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider's stock valued at $110,517,000 after purchasing an additional 1,017,000 shares during the period. Engineers Gate Manager LP lifted its holdings in Black Hills by 17,790.3% during the 4th quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider's stock worth $58,943,000 after purchasing an additional 844,327 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in Black Hills by 10,853.0% during the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider's stock worth $40,901,000 after purchasing an additional 658,017 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider's stock worth $157,995,000 after purchasing an additional 634,800 shares during the period. 86.71% of the stock is owned by institutional investors.

Black Hills Stock Performance

Shares of BKH opened at $75.23 on Friday. The company has a market cap of $5.73 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 2.98 and a beta of 0.71. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $73.57 and a 200-day moving average price of $73.01. Black Hills Corporation has a 12-month low of $55.79 and a 12-month high of $78.69.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate of $1.88 by ($0.09). The company had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The firm's revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the company posted $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a $0.703 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.7%. Black Hills's dividend payout ratio is presently 73.18%.

Insider Buying and Selling at Black Hills

In other news, Director Robert P. Otto sold 4,109 shares of the firm's stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the sale, the director owned 10,886 shares in the company, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.56% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BKH. Weiss Ratings raised Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. LADENBURG THALM/SH SH initiated coverage on shares of Black Hills in a research report on Wednesday, April 1st. They issued a "buy" rating and a $77.00 price objective for the company. BMO Capital Markets reduced their price objective on shares of Black Hills from $86.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday. Oppenheimer set a $78.00 target price on shares of Black Hills in a report on Thursday, June 11th. Finally, Bank of America increased their target price on shares of Black Hills from $78.00 to $87.00 and gave the stock a "buy" rating in a research note on Friday, July 10th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $81.67.

Black Hills 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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