Russell Investments Group Ltd. Has $1.17 Million Holdings in Black Hills Corporation $BKH

Key Points

• Russell Investments Group Ltd. boosted its stake in Black Hills Corporation by 980.1%, acquiring an additional 17,426 shares and bringing their total holdings to $1,165,000 at the end of the last quarter.
• Several hedge funds have increased their holdings in Black Hills, with NewEdge Advisors growing its position by 108.0%, while institutional investors now own 86.71% of the company's stock.
• Black Hills announced a quarterly dividend of $0.676 per share, translating to an annualized dividend of $2.70 and a yield of 4.5%, with the payout ratio currently at 68.01%.

Russell Investments Group Ltd. boosted its position in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 980.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,204 shares of the utilities provider's stock after purchasing an additional 17,426 shares during the period. Russell Investments Group Ltd.'s holdings in Black Hills were worth $1,165,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. IMA Advisory Services Inc. acquired a new stake in shares of Black Hills in the first quarter worth about $30,000. Clearstead Trust LLC bought a new position in shares of Black Hills in the first quarter worth about $30,000. GAMMA Investing LLC increased its stake in shares of Black Hills by 59.2% in the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock worth $37,000 after purchasing an additional 225 shares during the period. Quarry LP increased its stake in shares of Black Hills by 1,159.7% in the fourth quarter. Quarry LP now owns 781 shares of the utilities provider's stock worth $46,000 after purchasing an additional 719 shares during the period. Finally, Byrne Asset Management LLC increased its stake in shares of Black Hills by 238.0% in the first quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider's stock worth $51,000 after purchasing an additional 595 shares during the period. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Price Performance

NYSE BKH traded up $0.02 during trading on Monday, reaching $59.76. 565,326 shares of the company traded hands, compared to its average volume of 780,736. The company has a market cap of $4.35 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 2.77 and a beta of 0.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64. Black Hills Corporation has a 1-year low of $54.92 and a 1-year high of $65.59. The stock's 50 day moving average price is $58.22 and its two-hundred day moving average price is $58.84.

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

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.676 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.5%. Black Hills's dividend payout ratio is 68.01%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America upgraded Black Hills from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. BMO Capital Markets assumed coverage on Black Hills in a research note 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $66.00.

About Black Hills

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.