LPL Financial LLC Buys 7,211 Shares of Black Hills Corporation $BKH

Key Points

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LPL Financial LLC raised its stake in Black Hills Corporation (NYSE:BKH - Free Report) by 22.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,802 shares of the utilities provider's stock after acquiring an additional 7,211 shares during the quarter. LPL Financial LLC owned about 0.06% of Black Hills worth $2,414,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Journey Strategic Wealth LLC raised its holdings in Black Hills by 4.1% in the 1st quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider's stock valued at $265,000 after acquiring an additional 172 shares during the period. Financial Counselors Inc. raised its holdings in Black Hills by 0.3% in the 1st quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider's stock valued at $3,286,000 after acquiring an additional 176 shares during the period. Xponance Inc. raised its holdings in Black Hills by 1.9% in the 1st quarter. Xponance Inc. now owns 10,218 shares of the utilities provider's stock valued at $620,000 after acquiring an additional 188 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Black Hills by 5.9% during the fourth quarter. EP Wealth Advisors LLC now owns 3,528 shares of the utilities provider's stock worth $206,000 after purchasing an additional 197 shares during the period. Finally, State of Michigan Retirement System increased its holdings in shares of Black Hills by 1.2% during the first quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider's stock worth $1,037,000 after purchasing an additional 200 shares during the period. 86.71% of the stock is owned by institutional investors.

Black Hills Price Performance

Black Hills stock traded up $1.1360 during mid-day trading on Friday, reaching $60.8560. The company had a trading volume of 278,553 shares, compared to its average volume of 543,969. The company has a market cap of $4.43 billion, a P/E ratio of 15.33, a P/E/G ratio of 2.78 and a beta of 0.71. The business has a fifty day simple moving average of $57.74 and a 200 day simple moving average of $58.84. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $65.59.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting analysts' consensus estimates of $0.38. The company had revenue of $439.00 million for the quarter, compared to analyst estimates of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. Black Hills's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, equities research analysts predict that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BKH. Bank of America raised shares of Black Hills from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $57.00 to $64.00 in a report on Wednesday. BMO Capital Markets initiated coverage on shares of Black Hills in a research report on Tuesday, May 13th. They set an "outperform" rating and a $68.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $66.00.

Black Hills 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.