Paradiem LLC Trims Position in Black Hills Corporation $BKH

Key Points

• Paradiem LLC reduced its stake in Black Hills Corporation by 55% in Q2, holding 24,500 shares valued at $1.37 million after selling 29,938 shares.
• Bank of America upgraded Black Hills' rating from "underperform" to "neutral" and raised the price target from $57 to $64 following positive earnings reports.
• Black Hills announced a quarterly dividend of $0.676, representing an annualized payout of $2.70 and a yield of 4.4%, with a current payout ratio of 68.01%.

Paradiem LLC lessened its stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 55.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,500 shares of the utilities provider's stock after selling 29,938 shares during the quarter. Paradiem LLC's holdings in Black Hills were worth $1,374,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in Black Hills by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock valued at $13,064,000 after buying an additional 4,077 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Black Hills by 15.9% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider's stock valued at $480,000 after buying an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Black Hills by 215.5% during the 1st quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after buying an additional 1,125 shares in the last quarter. GAMMA Investing LLC grew its holdings in Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after buying an additional 225 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Black Hills during the 4th quarter valued at about $96,000. Hedge funds and other institutional investors own 86.71% of the company's stock.

Wall Street Analyst Weigh In

Separately, Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and boosted their price objective for the stock from $57.00 to $64.00 in a report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Black Hills currently has a consensus rating of "Hold" and an average price target of $66.00.

Black Hills Stock Up 0.3%

Shares of NYSE BKH opened at $61.12 on Tuesday. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.82 and a beta of 0.74. The business has a 50-day moving average of $59.33 and a 200-day moving average of $58.74.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.Black Hills's revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.676 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a yield of 4.4%. Black Hills's payout ratio is presently 68.01%.

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.

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