Phocas Financial Corp. Reduces Stock Holdings in Black Hills Corporation $BKH

Key Points

• Phocas Financial Corp. reduced its stake by 11.8% in Black Hills during Q4, selling 20,619 shares and ending the period with 154,041 shares worth about $10.7 million (0.21% of Black Hills), making BKH its 19th-largest holding.
• Several large hedge funds sharply increased positions (e.g., Zimmer Partners, Balyasny, AQR, Two Sigma), and overall institutional ownership of Black Hills is high at 86.71%, indicating strong institutional interest.
• Black Hills raised its quarterly dividend to $0.703 (a 4.0% yield), set FY2026 EPS guidance of 4.25–4.45, and analysts carry a "Moderate Buy" consensus with an average price target of $77.60.

Phocas Financial Corp. reduced its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 11.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,041 shares of the utilities provider's stock after selling 20,619 shares during the period. Black Hills makes up 1.4% of Phocas Financial Corp.'s holdings, making the stock its 19th largest position. Phocas Financial Corp. owned approximately 0.21% of Black Hills worth $10,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKH. Zimmer Partners LP grew its stake in shares of Black Hills by 2,100.0% during the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider's stock worth $67,750,000 after acquiring an additional 1,050,020 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Black Hills by 10,853.0% during the third quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider's stock valued at $40,901,000 after acquiring an additional 658,017 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Black Hills by 52.8% during the third quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider's stock valued at $84,628,000 after acquiring an additional 474,947 shares in the last quarter. Two Sigma Investments LP boosted its stake in Black Hills by 220.7% in the 3rd quarter. Two Sigma Investments LP now owns 525,653 shares of the utilities provider's stock worth $32,375,000 after purchasing an additional 361,751 shares in the last quarter. Finally, Crawford Investment Counsel Inc. boosted its stake in Black Hills by 264.8% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 447,651 shares of the utilities provider's stock worth $27,571,000 after purchasing an additional 324,931 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Price Performance

Shares of NYSE BKH opened at $70.71 on Monday. The business's 50 day moving average price is $72.08 and its 200 day moving average price is $69.12. The firm has a market cap of $5.38 billion, a P/E ratio of 17.77, a P/E/G ratio of 2.78 and a beta of 0.73. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $75.87. The company has a quick ratio of 1.11, a current ratio of 1.35 and a debt-to-equity ratio of 1.20.

Black Hills (NYSE:BKH - Get Free Report) last issued its quarterly earnings results on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.04. Black Hills had a net margin of 12.62% and a return on equity of 7.91%. The company had revenue of $635.50 million for the quarter, compared to the consensus estimate of $809.88 million. During the same quarter in the prior year, the company earned $1.37 EPS. Black Hills's quarterly revenue was up 6.4% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Tuesday, February 17th were issued a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a dividend yield of 4.0%. This is a boost from Black Hills's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Tuesday, February 17th. Black Hills's dividend payout ratio is 70.60%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Siebert Williams Shank raised shares of Black Hills from a "hold" rating to a "buy" rating and boosted their target price for the stock from $79.00 to $82.00 in a research report on Thursday, March 12th. Wall Street Zen raised shares of Black Hills from a "sell" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Black Hills in a research note on Friday, March 27th. LADENBURG THALM/SH SH began coverage on shares of Black Hills in a report on Wednesday, April 1st. They set a "buy" rating and a $77.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on Black Hills from $82.00 to $84.00 and gave the company an "outperform" rating in a research report on Monday, February 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Black Hills has an average rating of "Moderate Buy" and an average price target of $77.60.

About Black Hills

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.