Black Hills Corporation $BKH Shares Acquired by LPL Financial LLC

Key Points

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LPL Financial LLC lifted its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 22.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,802 shares of the utilities provider's stock after purchasing an additional 7,211 shares during the quarter. LPL Financial LLC owned about 0.06% of Black Hills worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wells Fargo & Company MN boosted its holdings in Black Hills by 17.5% during the 4th quarter. Wells Fargo & Company MN now owns 65,199 shares of the utilities provider's stock valued at $3,815,000 after acquiring an additional 9,725 shares during the period. Envestnet Asset Management Inc. lifted its stake in Black Hills by 60.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 54,088 shares of the utilities provider's stock valued at $3,165,000 after buying an additional 20,321 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Black Hills in the fourth quarter valued at approximately $8,413,000. Townsquare Capital LLC purchased a new stake in Black Hills in the fourth quarter valued at approximately $364,000. Finally, Mariner LLC lifted its stake in Black Hills by 17.2% in the fourth quarter. Mariner LLC now owns 28,372 shares of the utilities provider's stock valued at $1,660,000 after buying an additional 4,169 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Up 2.1%

Shares of BKH stock traded up $1.2310 during trading hours on Friday, reaching $60.9510. The company had a trading volume of 608,117 shares, compared to its average volume of 822,122. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $65.59. The company has a market capitalization of $4.44 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 2.83 and a beta of 0.71. The stock's fifty day simple moving average is $57.82 and its 200 day simple moving average is $58.84.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting analysts' consensus estimates of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same quarter last year, the firm earned $0.33 EPS. Black Hills's quarterly revenue was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. As a group, sell-side analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.676 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.4%. Black Hills's dividend payout ratio (DPR) is 68.01%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $57.00 to $64.00 in a report on Wednesday. BMO Capital Markets started coverage on Black Hills in a report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 target price on the stock. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Black Hills currently has an average rating of "Hold" and an average target price of $66.00.

Black Hills Company 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.