Verition Fund Management LLC Acquires 133,832 Shares of Black Hills Corporation $BKH

Key Points

• Verition Fund Management increased its Black Hills position by 113.8% in the fourth quarter, buying 133,832 additional shares and bringing its stake to 251,435 shares valued at about $17.5 million.
• Institutional ownership remains high at 86.71%, while insider activity included Director Robert P. Otto selling 4,109 shares for about $305,000, reducing his position by 27.4%.
• Black Hills reported Q1 earnings of $1.79 per share, missing estimates, but revenue topped expectations at $780.7 million; the company also paid a quarterly dividend of $0.703 per share, or $2.81 annually for a 3.8% yield.

Verition Fund Management LLC boosted its position in Black Hills Corporation (NYSE:BKH - Free Report) by 113.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 251,435 shares of the utilities provider's stock after acquiring an additional 133,832 shares during the period. Verition Fund Management LLC owned 0.33% of Black Hills worth $17,455,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. MML Investors Services LLC boosted its holdings in shares of Black Hills by 57.7% during the fourth quarter. MML Investors Services LLC now owns 8,097 shares of the utilities provider's stock worth $562,000 after purchasing an additional 2,961 shares during the period. Mariner LLC grew its stake in shares of Black Hills by 20.8% in the fourth quarter. Mariner LLC now owns 53,441 shares of the utilities provider's stock worth $3,711,000 after purchasing an additional 9,200 shares during the last quarter. Horizon Investment Services LLC bought a new stake in shares of Black Hills in the fourth quarter worth about $350,000. Entropy Technologies LP grew its stake in shares of Black Hills by 318.0% in the fourth quarter. Entropy Technologies LP now owns 36,160 shares of the utilities provider's stock worth $2,510,000 after purchasing an additional 27,510 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Black Hills in the fourth quarter worth about $136,000. Hedge funds and other institutional investors own 86.71% of the company's stock.

Insider Transactions at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of Black Hills stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares of the company's stock, valued at $807,958.92. This trade represents a 27.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Weiss Ratings cut Black Hills from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. LADENBURG THALM/SH SH assumed coverage on Black Hills in a research note on Wednesday, April 1st. They issued a "buy" rating and a $77.00 target price on the stock. Wall Street Zen cut Black Hills from a "hold" rating to a "sell" rating in a research note on Saturday, April 11th. Oppenheimer set a $78.00 target price on Black Hills in a research note on Thursday. Finally, Siebert Williams Shank raised shares of Black Hills from a "hold" rating to a "buy" rating and lifted their target price for the company from $79.00 to $82.00 in a research note on Thursday, March 12th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $81.17.

Black Hills Trading Up 0.1%

Shares of BKH opened at $73.55 on Tuesday. The firm's 50-day moving average price is $73.61 and its 200-day moving average price is $72.28. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 2.91 and a beta of 0.72. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. Black Hills Corporation has a 1-year low of $55.49 and a 1-year high of $78.69.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results 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 the consensus estimate of $769.19 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The company's revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.87 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Sell-side analysts anticipate that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Dividend Announcement

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

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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