Strs Ohio Buys Shares of 5,800 Black Hills Corporation $BKH

Key Points

• Strs Ohio purchased 5,800 shares of Black Hills Corporation (NYSE:BKH) for approximately $352,000 in the first quarter, marking a significant investment by this institutional investor.
• Black Hills reported earnings of $0.38 per share, meeting analyst expectations, with revenue up 8.9% year-over-year, indicating strong financial performance.
• The company announced a quarterly dividend of $0.676, yielding 4.5%, reflecting its commitment to returning value to shareholders.

Strs Ohio purchased a new position in Black Hills Corporation (NYSE:BKH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 5,800 shares of the utilities provider's stock, valued at approximately $352,000.

Several other institutional investors also recently bought and sold shares of the business. IMA Advisory Services Inc. bought a new stake in Black Hills during the 1st quarter valued at $30,000. Clearstead Trust LLC purchased a new stake in shares of Black Hills during the 1st quarter worth $30,000. GAMMA Investing LLC boosted its position in Black Hills by 59.2% during the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. Byrne Asset Management LLC grew its stake in Black Hills by 238.0% in the first quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 595 shares during the last quarter. Finally, State of Wyoming bought a new position in Black Hills in the first quarter worth about $59,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Stock Up 0.9%

BKH stock opened at $59.44 on Wednesday. The stock has a market capitalization of $4.33 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 2.73 and a beta of 0.74. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $65.59. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $59.06 and a 200 day moving average of $58.74.

Black Hills (NYSE:BKH - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $439.00 million for the quarter, compared to the consensus estimate of $412.69 million. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The firm's revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Sell-side analysts forecast that Black Hills Corporation will post 4.12 earnings per share for the current 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 4.5%. Black Hills's dividend payout ratio is currently 68.01%.

Wall Street Analysts Forecast Growth

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

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