Hunter Perkins Capital Management LLC Cuts Holdings in Black Hills Corporation $BKH

Key Points

• Hunter Perkins Capital Management LLC reduced its stake in Black Hills Corporation by 11.7% during the second quarter, owning 193,540 shares valued at approximately $10.86 million.
• Black Hills Corporation reported earnings of $0.38 per share for the last quarter, matching analysts' expectations, with revenue of $439 million, surpassing forecasted figures.
• The company declared a quarterly dividend of $0.676 per share, representing a yield of 4.5% and a payout ratio of 68.01%.

Hunter Perkins Capital Management LLC lessened its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,540 shares of the utilities provider's stock after selling 25,678 shares during the quarter. Black Hills makes up 2.6% of Hunter Perkins Capital Management LLC's holdings, making the stock its 10th biggest position. Hunter Perkins Capital Management LLC owned about 0.27% of Black Hills worth $10,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BKH. 111 Capital grew its position in Black Hills by 86.3% during the second quarter. 111 Capital now owns 9,496 shares of the utilities provider's stock worth $533,000 after buying an additional 4,400 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in Black Hills by 19.4% during the second quarter. Hennessy Advisors Inc. now owns 53,647 shares of the utilities provider's stock worth $3,010,000 after purchasing an additional 8,700 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Black Hills during the 2nd quarter worth approximately $43,000. Hilltop National Bank bought a new stake in shares of Black Hills in the second quarter valued at approximately $50,000. Finally, Littlejohn Financial Services Inc. boosted its position in shares of Black Hills by 1.0% in the second quarter. Littlejohn Financial Services Inc. now owns 36,780 shares of the utilities provider's stock valued at $2,063,000 after acquiring an additional 380 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Black Hills Stock Performance

Shares of Black Hills stock opened at $60.14 on Monday. The stock's fifty day moving average price is $59.61 and its 200-day moving average price is $58.73. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.38 billion, a P/E ratio of 15.15, a P/E/G ratio of 2.79 and a beta of 0.73.

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 analysts' consensus estimates of $0.38. The business had revenue of $439.00 million during the quarter, compared to analysts' expectations of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, equities research analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, August 18th. Black Hills's dividend payout ratio (DPR) is presently 68.01%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BKH. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and increased their price objective for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. Weiss Ratings restated a "hold (c)" rating on shares of Black Hills in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.00.

Black Hills 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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