Intech Investment Management LLC Increases Stock Position in Black Hills Corporation $BKH

Key Points

• Intech Investment Management LLC has increased its stake in Black Hills Corporation by 21.5%, now holding 33,120 shares valued at approximately $2 million.
• Black Hills recently reported a quarterly earnings per share (EPS) of $0.38, matching analysts' expectations, with revenues increasing by 8.9% year-over-year to $439 million.
• The company announced a quarterly dividend of $0.676 per share, yielding 4.6%, and received a target price upgrade from Bank of America from $57 to $64.

Intech Investment Management LLC raised its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 21.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,120 shares of the utilities provider's stock after buying an additional 5,859 shares during the period. Intech Investment Management LLC's holdings in Black Hills were worth $2,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Black Hills by 5.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider's stock valued at $8,168,000 after buying an additional 7,332 shares during the period. United Services Automobile Association acquired a new stake in shares of Black Hills in the 1st quarter valued at $255,000. Jones Financial Companies Lllp raised its holdings in shares of Black Hills by 37.8% in the 1st quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider's stock valued at $184,000 after purchasing an additional 834 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its holdings in shares of Black Hills by 11.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 19,590 shares of the utilities provider's stock valued at $1,188,000 after purchasing an additional 2,041 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in shares of Black Hills in the 1st quarter valued at $282,000. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Price Performance

BKH traded down $0.14 during midday trading on Friday, reaching $58.57. 888,808 shares of the company's stock were exchanged, compared to its average volume of 477,953. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market capitalization of $4.27 billion, a PE ratio of 14.75, a P/E/G ratio of 2.72 and a beta of 0.74. The business's 50-day moving average price is $58.96 and its 200 day moving average price is $58.75. 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 announced its 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 company 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 firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, equities analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a $0.676 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, August 18th. Black Hills's payout ratio is currently 68.01%.

Analyst Ratings Changes

Separately, Bank of America upgraded shares of Black Hills from an "underperform" rating to a "neutral" rating and raised their price objective for the company from $57.00 to $64.00 in a report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Black Hills presently has an average rating of "Hold" and a consensus price target of $66.00.

About Black Hills

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.