Janus Henderson Group PLC Sells 24,726 Shares of Black Hills Corporation $BKH

Key Points

• Janus Henderson Group reduced its Black Hills stake by 6.2%, selling 24,726 shares and retaining 373,694 shares worth about $25.9 million. Institutional investors collectively own 86.71% of the utility company.
• Analyst sentiment remains broadly positive: Black Hills has a consensus “Buy” rating and an average price target of $81.67, despite one recent downgrade to “Sell.”
• Black Hills reported quarterly EPS of $1.79, below the $1.88 consensus, while revenue exceeded estimates at $780.7 million. The company declared a quarterly dividend of $0.703 per share, representing a 3.9% annualized yield.

Janus Henderson Group PLC lessened its holdings in Black Hills Corporation (NYSE:BKH - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 373,694 shares of the utilities provider's stock after selling 24,726 shares during the period. Janus Henderson Group PLC owned 0.49% of Black Hills worth $25,938,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of BKH. Capital Research Global Investors increased its holdings 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 valued at $157,995,000 after acquiring an additional 634,800 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Black Hills by 6,416.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 155,752 shares of the utilities provider's stock worth $10,812,000 after purchasing an additional 153,362 shares during the last quarter. BW Gestao de Investimentos Ltda. bought a new stake in Black Hills during the fourth quarter worth approximately $5,985,000. Horizon Investments LLC boosted its position in Black Hills by 74.3% during the fourth quarter. Horizon Investments LLC now owns 34,523 shares of the utilities provider's stock worth $2,397,000 after purchasing an additional 14,716 shares during the period. Finally, UBS Group AG grew its holdings in Black Hills by 86.5% during the fourth quarter. UBS Group AG now owns 572,227 shares of the utilities provider's stock valued at $39,724,000 after purchasing an additional 265,464 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.

Insider Activity at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of the firm's stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company's stock, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.56% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BKH. Oppenheimer set a $78.00 price target on shares of Black Hills in a research report on Thursday, June 11th. BMO Capital Markets lowered their target price on shares of Black Hills from $86.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Bank of America upped their price target on shares of Black Hills from $78.00 to $87.00 and gave the company a "buy" rating in a report on Friday, July 10th. Finally, Wall Street Zen downgraded Black Hills from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Hills has a consensus rating of "Buy" and an average target price of $81.67.

Black Hills Stock Up 0.2%

Shares of BKH opened at $71.34 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65. The company has a 50-day simple moving average of $73.43 and a 200-day simple moving average of $73.12. Black Hills Corporation has a 52 week low of $57.89 and a 52 week high of $78.69. The firm has a market capitalization of $5.43 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.82 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The firm had revenue of $780.70 million for the quarter, compared to analyst estimates of $769.19 million. During the same period last year, the business earned $1.87 earnings per share. The firm's quarterly revenue was down 3.0% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts expect that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 3.9%. Black Hills's payout ratio is currently 73.18%.

About Black Hills

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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