Segall Bryant & Hamill LLC Grows Holdings in Black Hills Corporation $BKH

Key Points

• Segall Bryant & Hamill more than doubled its stake in Black Hills in Q3—up **100.8%** to 62,793 shares (about $3.87M)—as institutional investors now own roughly **86.7%** of the stock.
• Dividend and results: Black Hills raised its quarterly dividend to $0.703 (annualized $2.81, yield ~3.8%), reported Q EPS of $1.41 beating estimates, and set FY2026 guidance of **$4.25–$4.45** per share.
• Analyst view: The consensus is a "Moderate Buy" with a $76.33 target; notable upgrades include Scotiabank to "sector outperform" ($81 target) and BMO to "outperform" ($84 target), with three analysts rating Buy and one Hold.

Segall Bryant & Hamill LLC increased its holdings in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 100.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,793 shares of the utilities provider's stock after purchasing an additional 31,529 shares during the period. Segall Bryant & Hamill LLC owned 0.09% of Black Hills worth $3,867,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BKH. Spire Wealth Management raised its holdings in shares of Black Hills by 4,115.4% in the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider's stock valued at $31,000 after buying an additional 535 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Black Hills during the second quarter worth about $31,000. Smartleaf Asset Management LLC increased its position in Black Hills by 132.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 576 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 328 shares during the period. Blue Trust Inc. increased its position in Black Hills by 37.8% in the 3rd quarter. Blue Trust Inc. now owns 641 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 176 shares during the period. Finally, Clearstead Advisors LLC raised its stake in Black Hills by 884.8% during the 3rd quarter. Clearstead Advisors LLC now owns 778 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 699 shares during the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on BKH shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Black Hills in a research note on Monday, December 29th. Scotiabank upgraded Black Hills from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $66.00 to $81.00 in a research note on Friday, November 7th. Wall Street Zen lowered shares of Black Hills from a "hold" rating to a "sell" rating in a research report on Saturday, February 14th. Finally, BMO Capital Markets boosted their price objective on shares of Black Hills from $82.00 to $84.00 and gave the company an "outperform" rating in a research note on Monday, February 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.33.

Black Hills Stock Performance

Shares of BKH stock opened at $74.40 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.11 and a debt-to-equity ratio of 1.23. The stock has a 50 day simple moving average of $72.42 and a 200-day simple moving average of $67.42. The company has a market cap of $5.62 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 2.99 and a beta of 0.75. Black Hills Corporation has a 12-month low of $54.92 and a 12-month high of $75.87.

Black Hills (NYSE:BKH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.04. Black Hills had a return on equity of 7.95% and a net margin of 12.62%.The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.37 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities analysts forecast that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Stockholders of record on Tuesday, February 17th were paid a dividend of $0.703 per share. 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. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. Black Hills's dividend payout ratio is currently 70.60%.

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.

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