Man Group plc Takes $1.26 Million Position in Black Hills Corporation $BKH

Key Points

• Man Group plc acquired 16,967 shares of Black Hills Corporation during the second quarter, valued at approximately $1.26 million. Institutional investors collectively own 86.71% of the utility company.
• Analysts maintain a positive outlook, with six Buy ratings, a consensus “Buy” rating, and an average price target of $81.67; targets range as high as $87.00.
• Black Hills exceeded quarterly EPS expectations, reporting $0.54 versus the $0.41 consensus estimate, while maintaining a quarterly dividend of $0.703 per share, equivalent to a 3.9% annualized yield.

Man Group plc purchased a new stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,967 shares of the utilities provider's stock, valued at approximately $1,262,000.

Several other hedge funds have also recently bought and sold shares of the business. Clearstead Trust LLC acquired a new position in shares of Black Hills in the 2nd quarter valued at about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Black Hills during the second quarter worth approximately $34,000. Advisory Services Network LLC acquired a new stake in shares of Black Hills during the third quarter worth approximately $45,000. Global Retirement Partners LLC purchased a new position in Black Hills during the second quarter valued at approximately $56,000. Finally, Geneos Wealth Management Inc. increased its stake in Black Hills by 44.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider's stock valued at $58,000 after buying an additional 317 shares during the period. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Oppenheimer set a $78.00 target price on shares of Black Hills in a research report on Thursday, June 11th. Weiss Ratings raised shares of Black Hills from a "buy (b-)" rating to a "buy (b)" rating in a research note on Friday, July 24th. Bank of America increased their price objective on Black Hills from $78.00 to $87.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Wall Street Zen raised Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, BMO Capital Markets lowered their target price on Black Hills from $86.00 to $85.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Black Hills has a consensus rating of "Buy" and a consensus price target of $81.67.

Black Hills Stock Up 0.3%

Black Hills stock opened at $72.62 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.52 and a quick ratio of 0.41. Black Hills Corporation has a fifty-two week low of $58.06 and a fifty-two week high of $78.69. The firm has a fifty day moving average price of $73.61 and a two-hundred day moving average price of $73.14. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 18.34, a P/E/G ratio of 2.86 and a beta of 0.71.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. The company had revenue of $452.80 million for the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.The firm's revenue was up 3.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were issued a $0.703 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.9%. Black Hills's dividend payout ratio (DPR) is 70.96%.

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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