Principal Financial Group Inc. Purchases 157,549 Shares of Black Hills Corporation $BKH

Key Points

• Principal Financial Group increased its Black Hills stake by 96.4% in the first quarter, buying 157,549 additional shares and bringing its total to 320,946 shares valued at about $22.3 million.
• Black Hills reported mixed quarterly results, with earnings of $1.79 per share missing estimates, while revenue of $780.7 million topped expectations. The company also issued FY 2026 guidance of $4.25 to $4.45 EPS.
• The utility declared a quarterly dividend of $0.703 per share, equal to an annualized yield of 3.8%, while analysts remain mostly positive with an average Buy rating and target price of $82.67.

Principal Financial Group Inc. raised its position in Black Hills Corporation (NYSE:BKH - Free Report) by 96.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,946 shares of the utilities provider's stock after purchasing an additional 157,549 shares during the quarter. Principal Financial Group Inc. owned 0.42% of Black Hills worth $22,277,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BKH. Advisory Services Network LLC bought a new stake in shares of Black Hills during the 3rd quarter worth approximately $45,000. First Horizon Corp grew its position in Black Hills by 192.8% in the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 509 shares during the last quarter. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 317 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Black Hills by 47.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider's stock worth $59,000 after purchasing an additional 274 shares during the period. Finally, Parallel Advisors LLC increased its stake in Black Hills by 42.6% in the third quarter. Parallel Advisors LLC now owns 1,179 shares of the utilities provider's stock worth $73,000 after purchasing an additional 352 shares during the period. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Stock Performance

Shares of Black Hills stock opened at $74.30 on Wednesday. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock's fifty day moving average price is $73.49 and its 200-day moving average price is $72.91. The firm has a market cap of $5.66 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.95 and a beta of 0.71. Black Hills Corporation has a 12 month low of $55.79 and a 12 month high of $78.69.

Black Hills (NYSE:BKH - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $1.88 by ($0.09). Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The business had revenue of $780.70 million during the quarter, compared to analysts' expectations of $769.19 million. During the same period last year, the company earned $1.87 earnings per share. The firm's revenue was down 3.0% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts expect that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were given a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Black Hills's dividend payout ratio is presently 73.18%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BKH shares. Bank of America boosted their target price on shares of Black Hills from $78.00 to $87.00 and gave the company a "buy" rating in a research note on Friday, July 10th. Weiss Ratings lowered shares of Black Hills from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 9th. BMO Capital Markets boosted their price objective on shares of Black Hills from $84.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, April 15th. LADENBURG THALM/SH SH began coverage on shares of Black Hills in a research report on Wednesday, April 1st. They set a "buy" rating and a $77.00 target price on the stock. Finally, Oppenheimer set a $78.00 price target on shares of Black Hills in a research note on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $82.67.

Insider Buying and Selling at Black Hills

In other news, Director Robert P. Otto sold 4,109 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the transaction, the director directly owned 10,886 shares in the company, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.56% of the company's stock.

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.

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