Thrivent Financial for Lutherans Trims Stock Holdings in Black Hills Corporation $BKH

Key Points

• Thrivent Financial for Lutherans cut its Black Hills stake by 16.8% in the fourth quarter, selling 19,033 shares and leaving it with 94,464 shares worth about $6.56 million.
• Black Hills reported mixed quarterly results, missing EPS estimates at $1.79 versus $1.88 expected, while revenue came in slightly above forecasts at $780.7 million.
• The utility declared a quarterly dividend of $0.703 per share, implying an annualized yield of 3.8%, and analysts currently have a consensus Moderate Buy rating with an average price target of $81.40.

Thrivent Financial for Lutherans decreased its position in Black Hills Corporation (NYSE:BKH - Free Report) by 16.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,464 shares of the utilities provider's stock after selling 19,033 shares during the period. Thrivent Financial for Lutherans owned approximately 0.13% of Black Hills worth $6,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BKH. Zimmer Partners LP raised its stake in Black Hills by 2,100.0% in the 3rd 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. raised its stake in Black Hills by 10,853.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider's stock worth $40,901,000 after acquiring an additional 658,017 shares during the last quarter. AQR Capital Management LLC raised its stake in Black Hills by 52.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider's stock worth $84,628,000 after acquiring an additional 474,947 shares during the last quarter. Two Sigma Investments LP raised 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 acquiring an additional 361,751 shares during the last quarter. Finally, Crawford Investment Counsel Inc. raised 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 acquiring an additional 324,931 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company's stock.

Black Hills Stock Performance

NYSE BKH opened at $73.82 on Thursday. The stock has a 50-day simple moving average of $72.65 and a two-hundred day simple moving average of $71.82. The firm has a market capitalization of $5.62 billion, a P/E ratio of 19.22, a PEG ratio of 2.90 and a beta of 0.74. Black Hills Corporation has a fifty-two week low of $55.49 and a fifty-two week high of $78.69. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65.

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). The company had revenue of $780.70 million for the quarter, compared to analysts' expectations of $769.19 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.87 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 4.34 earnings per share for the current year.

Black Hills Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be given a dividend of $0.703 per share. The ex-dividend date is Friday, May 15th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. Black Hills's dividend payout ratio (DPR) is 73.18%.

Analysts Set New Price Targets

BKH has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Black Hills from $84.00 to $91.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 15th. Bank of America lifted their price objective on Black Hills from $72.00 to $76.00 and gave the company a "neutral" rating in a research note on Thursday, April 9th. Siebert Williams Shank upgraded Black Hills from a "hold" rating to a "buy" rating and lifted their price objective for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Black Hills in a research note on Friday, March 27th. Finally, LADENBURG THALM/SH SH initiated coverage on Black Hills in a research note on Wednesday, April 1st. They set a "buy" rating and a $77.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Black Hills currently has a consensus rating of "Moderate Buy" and an average price target of $81.40.

Black Hills Profile

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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