Dockside LLC Makes New $1.57 Million Investment in Black Hills Corporation $BKH

Dockside LLC purchased a new position in shares of Black Hills Corporation (NYSE:BKH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,064 shares of the utilities provider’s stock, valued at approximately $1,567,000.

Several other institutional investors have also recently made changes to their positions in BKH. Zimmer Partners LP lifted its stake in Black Hills by 2,100.0% in the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock worth $67,750,000 after acquiring an additional 1,050,020 shares during the period. Adage Capital Partners GP L.L.C. increased its position in Black Hills by 176.9% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock valued at $110,517,000 after purchasing an additional 1,017,000 shares during the period. Engineers Gate Manager LP raised its holdings in shares of Black Hills by 17,790.3% in the 4th quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider’s stock valued at $58,943,000 after purchasing an additional 844,327 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Black Hills by 10,853.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock worth $40,901,000 after purchasing an additional 658,017 shares during the period. Finally, Capital Research Global Investors lifted its position in shares of Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analyst Ratings Changes

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

Black Hills Trading Up 0.5%

NYSE:BKH opened at $74.34 on Friday. The stock has a market capitalization of $5.67 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.93 and a beta of 0.71. Black Hills Corporation has a 52 week low of $58.06 and a 52 week high of $78.69. The company has a quick ratio of 0.41, a current ratio of 0.52 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average of $73.55 and a 200 day moving average of $73.15.

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 business had revenue of $452.80 million for 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%.The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, sell-side analysts anticipate that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a $0.703 dividend. The ex-dividend date is Monday, August 17th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. Black Hills’s dividend payout ratio (DPR) is 70.96%.

Insiders Place Their Bets

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the sale, the director owned 10,886 shares of the company’s stock, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

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.