Ieq Capital LLC Invests $6.87 Million in Black Hills Corporation $BKH

Ieq Capital LLC bought a new position in Black Hills Corporation (NYSE:BKH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 92,351 shares of the utilities provider’s stock, valued at approximately $6,871,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Black Hills by 7.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,798 shares of the utilities provider’s stock worth $2,596,000 after acquiring an additional 2,906 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Black Hills by 83.2% in the first quarter. NewEdge Advisors LLC now owns 3,345 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 1,519 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Black Hills by 37.8% in the first quarter. Jones Financial Companies Lllp now owns 3,040 shares of the utilities provider’s stock valued at $184,000 after purchasing an additional 834 shares in the last quarter. United Services Automobile Association purchased a new position in shares of Black Hills in the first quarter valued at $255,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Black Hills by 5.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 134,673 shares of the utilities provider’s stock worth $8,168,000 after purchasing an additional 7,332 shares during the last quarter. 86.71% of the stock is owned by institutional investors.

Black Hills Stock Performance

NYSE:BKH opened at $71.71 on Monday. The stock’s fifty day moving average is $73.69 and its 200 day moving average is $73.16. Black Hills Corporation has a fifty-two week low of $58.06 and a fifty-two week high of $78.69. The firm has a market capitalization of $5.47 billion, a PE ratio of 18.11, a PEG ratio of 2.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52.

Black Hills (NYSE:BKH) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. The company had revenue of $452.80 million during the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a return on equity of 7.98% and a net margin of 13.01%.Black Hills’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the company earned $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts anticipate that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be issued a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, August 17th. Black Hills’s dividend payout ratio (DPR) is 70.96%.

Insider Activity

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 approximately $807,958.92. The trade was a 27.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets decreased their price target on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 22nd. Bank of America lifted their price objective on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Finally, Oppenheimer set a $78.00 price target on shares of Black Hills in a report on Thursday, June 11th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $81.67.

About Black Hills

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.