Ieq Capital LLC Purchases Shares of 92,351 Black Hills Corporation $BKH

Key Points

• Ieq Capital LLC purchased 92,351 Black Hills shares valued at approximately $6.87 million, while institutional investors collectively own 86.71% of the company.
• Analysts maintain a favorable outlook, with six Buy ratings, a consensus “Buy” rating, and an average price target of $81.67.
• Black Hills beat quarterly EPS estimates ($0.54 versus $0.41) and raised revenue 3.1% year over year; it also declared a quarterly dividend of $0.703 per share, representing a 3.9% annualized yield.

Ieq Capital LLC purchased a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 92,351 shares of the utilities provider's stock, valued at approximately $6,871,000. Ieq Capital LLC owned about 0.12% of Black Hills as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Black Hills during the second quarter valued at approximately $928,675,000. State Street Corp boosted its stake in shares of Black Hills by 0.8% during the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider's stock worth $215,515,000 after acquiring an additional 31,093 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Black Hills by 38.7% during the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider's stock worth $157,995,000 after acquiring an additional 634,800 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Black Hills by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider's stock valued at $131,548,000 after acquiring an additional 55,232 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position 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 acquiring an additional 1,017,000 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BKH shares. BMO Capital Markets reduced their price objective on Black Hills from $86.00 to $85.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. Bank of America lifted their target price on Black Hills from $78.00 to $87.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Weiss Ratings raised Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Oppenheimer set a $78.00 price target on Black Hills in a research report on Thursday, June 11th. Finally, Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research note on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Black Hills has a consensus rating of "Buy" and an average price target of $81.67.

Insider Activity at Black Hills

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

Black Hills Stock Performance

NYSE:BKH opened at $71.71 on Monday. The company has a current ratio of 0.52, a quick ratio of 0.41 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a 12-month low of $58.06 and a 12-month high of $78.69. The stock has a 50-day moving average price of $73.69 and a 200 day moving average price of $73.16. The stock has a market capitalization of $5.47 billion, a P/E ratio of 18.11, a P/E/G ratio of 2.84 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.The company had revenue of $452.80 million for the quarter, compared to the consensus estimate of $490.89 million. During the same quarter last year, the company earned $0.38 EPS. The firm's quarterly revenue was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts forecast that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.703 per share. The ex-dividend date is Monday, August 17th. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. Black Hills's dividend payout ratio (DPR) is presently 70.96%.

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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