Legal & General Group Plc Lowers Position in Black Hills Corporation $BKH

Key Points

• Legal & General Group Plc cut its Black Hills stake by 9.8% in the fourth quarter, selling 36,703 shares and ending with 339,452 shares valued at about $23.6 million.
• Black Hills reported mixed quarterly results, posting EPS of $1.79 versus the $1.88 consensus while revenue of $780.7 million slightly beat expectations; the company also issued FY 2026 EPS guidance of $4.25 to $4.45.
• The company continues to offer a sizable dividend, declaring a quarterly payout of $0.703 per share, or $2.81 annually, for a yield of 3.9%.

Legal & General Group Plc lessened its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 9.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 339,452 shares of the utilities provider's stock after selling 36,703 shares during the quarter. Legal & General Group Plc owned approximately 0.47% of Black Hills worth $23,565,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp lifted its holdings in shares of Black Hills by 0.6% in the third quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider's stock worth $1,614,000 after buying an additional 154 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Black Hills by 11.5% in the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider's stock worth $105,000 after buying an additional 156 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Black Hills by 4.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider's stock worth $266,000 after buying an additional 168 shares in the last quarter. IFP Advisors Inc raised its stake in Black Hills by 2.7% during the fourth quarter. IFP Advisors Inc now owns 6,918 shares of the utilities provider's stock valued at $480,000 after purchasing an additional 183 shares in the last quarter. Finally, Osaic Holdings Inc. raised its stake in Black Hills by 2.5% during the second quarter. Osaic Holdings Inc. now owns 9,068 shares of the utilities provider's stock valued at $509,000 after purchasing an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Trading Up 0.0%

NYSE BKH opened at $72.84 on Monday. The company's 50-day moving average price is $73.04 and its 200-day moving average price is $72.19. 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 market cap of $5.55 billion, a PE ratio of 18.97, a PEG ratio of 2.88 and a beta of 0.72. Black Hills Corporation has a 12 month low of $55.49 and a 12 month high of $78.69.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.79 EPS 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 company had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company's revenue for the quarter was down 3.0% 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 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, May 15th. Black Hills's dividend payout ratio is presently 73.18%.

Insider Transactions at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the transaction, the director directly owned 10,886 shares in the company, valued at $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on BKH. Siebert Williams Shank raised shares of Black Hills from a "hold" rating to a "buy" rating and upped their price target for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. LADENBURG THALM/SH SH began coverage on shares of Black Hills in a research note on Wednesday, April 1st. They set a "buy" rating and a $77.00 price target on the stock. Weiss Ratings raised shares of Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, May 21st. BMO Capital Markets upped their price target on shares of Black Hills from $84.00 to $91.00 and gave the company an "outperform" rating in a research note on Wednesday, April 15th. Finally, Bank of America increased their target price on shares of Black Hills from $72.00 to $76.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $81.40.

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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