Wellington Management Group LLP Purchases Shares of 131,169 Black Hills Corporation $BKH

Key Points

• Wellington Management Group LLP acquired 131,169 shares of Black Hills Corporation, valued at approximately $7,955,000, representing about 0.18% of the company's stock.
• Black Hills Corporation recently reported an earnings-per-share (EPS) of $0.38, matching consensus estimates, with revenue up 8.9% year-over-year.
• The company declared a quarterly dividend of $0.676, leading to an annualized dividend yield of 4.5%, with the ex-dividend date set for August 18th.

Wellington Management Group LLP acquired a new stake in Black Hills Corporation (NYSE:BKH - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 131,169 shares of the utilities provider's stock, valued at approximately $7,955,000. Wellington Management Group LLP owned approximately 0.18% of Black Hills at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Versor Investments LP bought a new position in Black Hills in the 1st quarter valued at $449,000. Raymond James Financial Inc. boosted its holdings in Black Hills by 2.0% in the 1st quarter. Raymond James Financial Inc. now owns 146,590 shares of the utilities provider's stock valued at $8,891,000 after purchasing an additional 2,817 shares during the period. Brandywine Global Investment Management LLC boosted its holdings in Black Hills by 5.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 257,940 shares of the utilities provider's stock valued at $15,644,000 after purchasing an additional 13,544 shares during the period. Fox Run Management L.L.C. boosted its holdings in Black Hills by 10.0% in the 1st quarter. Fox Run Management L.L.C. now owns 13,431 shares of the utilities provider's stock valued at $815,000 after purchasing an additional 1,226 shares during the period. Finally, Sei Investments Co. boosted its holdings in Black Hills by 2.5% in the 1st quarter. Sei Investments Co. now owns 22,868 shares of the utilities provider's stock valued at $1,361,000 after purchasing an additional 564 shares during the period. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Price Performance

NYSE:BKH traded up $0.02 during midday trading on Monday, hitting $59.76. The company had a trading volume of 565,326 shares, compared to its average volume of 780,736. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. The stock's fifty day moving average price is $58.22 and its 200-day moving average price is $58.84. The company has a market capitalization of $4.35 billion, a PE ratio of 15.05, a P/E/G ratio of 2.77 and a beta of 0.74. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH - Get Free Report) last announced its earnings results 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 net margin of 12.68% and a return on equity of 7.81%. The company had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same period in the previous year, the business earned $0.33 earnings per share. The firm's quarterly revenue 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, research analysts expect that Black Hills Corporation will post 4.12 earnings per share for the current year.

Black Hills Dividend Announcement

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

Wall Street Analysts Forecast Growth

BKH has been the subject of several analyst reports. Bank of America raised 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. BMO Capital Markets initiated coverage on shares of Black Hills in a report on Tuesday, May 13th. They issued an "outperform" rating and a $68.00 price target for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Black Hills currently has a consensus rating of "Hold" and a consensus price target of $66.00.

Black Hills Profile

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.