Black Hills (NYSE:BKH) Sets New 52-Week High - What's Next?

Key Points

• Black Hills shares reached a new 52-week high of $82.07, supported by a consensus “Buy” rating and an average analyst price target of $83.25.
• The utility reported quarterly EPS of $0.54, beating estimates by $0.13, while revenue rose 3.1% year over year to $452.8 million. Full-year 2026 EPS guidance is $4.25–$4.45.
• Black Hills declared a quarterly dividend of $0.703 per share, equivalent to an annualized $2.81 and a 3.4% yield; institutional investors own 86.71% of the stock.

Black Hills Corporation (NYSE:BKH - Get Free Report)'s stock price reached a new 52-week high during trading on Friday. The stock traded as high as $82.07 and last traded at $81.62, with a volume of 24,819 shares. The stock had previously closed at $80.79.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Freedom Broker raised Black Hills from a "hold" rating to a "buy" rating and increased their price objective for the company from $69.00 to $78.00 in a research note on Wednesday, October 7th. Weiss Ratings restated a "buy (b)" rating on shares of Black Hills in a research report on Thursday, October 22nd. Wall Street Zen raised shares of Black Hills from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. BMO Capital Markets lifted their target price on Black Hills from $83.00 to $86.00 and gave the company an "outperform" rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group assumed coverage on Black Hills in a research note on Wednesday, October 14th. They issued a "buy" rating and a $87.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $83.25.

Black Hills Price Performance

The company has a fifty day moving average price of $73.82 and a two-hundred day moving average price of $73.28. The firm has a market capitalization of $6.21 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 3.15 and a beta of 0.68. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The company had revenue of $452.80 million for the quarter, compared to analysts' expectations of $490.89 million. During the same period in the previous year, the company posted $0.38 EPS. Black Hills's revenue was up 3.1% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts expect that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be paid a $0.7030 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, November 17th. Black Hills's dividend payout ratio is presently 70.96%.

Hedge Funds Weigh In On Black Hills

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Black Hills in the second quarter valued at $928,675,000. Engineers Gate Manager LP increased its position in Black Hills by 35.7% during the second quarter. Engineers Gate Manager LP now owns 1,442,064 shares of the utilities provider's stock worth $107,290,000 after purchasing an additional 379,211 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Black Hills by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,141,272 shares of the utilities provider's stock worth $79,215,000 after purchasing an additional 18,109 shares during the last quarter. Bank of America Corp DE raised its stake in Black Hills by 109.2% during the first quarter. Bank of America Corp DE now owns 899,963 shares of the utilities provider's stock worth $62,466,000 after purchasing an additional 469,733 shares during the period. Finally, Corient Private Wealth LP purchased a new position in Black Hills during the second quarter worth approximately $3,691,000. 86.71% of the stock is owned by institutional investors and hedge funds.

Black Hills Company Profile

Black Hills Corporation NYSE: BKH is an energy company headquartered in Rapid City, South Dakota. Through its Black Hills Energy businesses, the company provides regulated electric and natural gas utility services to residential, commercial and industrial customers.

Black Hills operates electric utilities and natural gas distribution systems across parts of Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Its activities include generating and purchasing electricity, transmitting and distributing power, distributing natural gas, and developing and maintaining the infrastructure needed to serve its utility customers.

The company traces its history to the Black Hills region and has expanded through the development and acquisition of utility operations in the central and western United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.