Magellan Asset Management Ltd Makes New $6.35 Million Investment in Black Hills Corporation $BKH

Magellan Asset Management Ltd acquired a new stake in shares of Black Hills Corporation (NYSE:BKH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 85,307 shares of the utilities provider’s stock, valued at approximately $6,347,000. Magellan Asset Management Ltd owned about 0.11% of Black Hills as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BKH. Clearstead Trust LLC purchased a new stake in shares of Black Hills in the second quarter worth about $34,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Black Hills in the 2nd quarter worth approximately $34,000. Advisory Services Network LLC bought a new stake in Black Hills in the 3rd quarter worth approximately $45,000. Global Retirement Partners LLC purchased a new stake in shares of Black Hills during the 2nd quarter worth approximately $56,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Black Hills by 47.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Insider Activity at Black Hills

In other news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the transaction, the director owned 10,886 shares in the company, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.56% of the stock is owned by insiders.

Black Hills Price Performance

Shares of NYSE BKH opened at $71.71 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52. The firm has a fifty day moving average of $73.69 and a 200 day moving average of $73.16. The firm has a market cap of $5.47 billion, a PE ratio of 18.11, a PEG ratio of 2.84 and a beta of 0.71. Black Hills Corporation has a one year low of $58.06 and a one year high of $78.69.

Black Hills (NYSE:BKH) last announced its earnings results 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 business had revenue of $452.80 million for the quarter, compared to analyst estimates of $490.89 million. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts predict that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

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

Analyst Upgrades and Downgrades

BKH has been the subject of several research reports. Oppenheimer set a $78.00 price target on shares of Black Hills in a research report on Thursday, June 11th. Bank of America upped their target price on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. BMO Capital Markets reduced their price target on Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Finally, Wall Street Zen upgraded Black Hills from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Six investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Black Hills presently has a consensus rating of “Buy” and a consensus price target of $81.67.

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.