Engineers Gate Manager LP Acquires 844,327 Shares of Black Hills Corporation $BKH

Engineers Gate Manager LP increased its position in Black Hills Corporation (NYSE:BKH) by 17,790.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 849,073 shares of the utilities provider’s stock after purchasing an additional 844,327 shares during the period. Black Hills accounts for 0.7% of Engineers Gate Manager LP’s investment portfolio, making the stock its 20th largest holding. Engineers Gate Manager LP’s holdings in Black Hills were worth $58,943,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BKH. Zimmer Partners LP lifted its position in shares of 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 buying an additional 1,050,020 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Black Hills by 176.9% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock worth $110,517,000 after buying an additional 1,017,000 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Black Hills by 10,853.0% in the third quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock worth $40,901,000 after buying an additional 658,017 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Black Hills by 38.7% in the fourth quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after buying an additional 634,800 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Black Hills by 52.8% in the third quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider’s stock worth $84,628,000 after buying an additional 474,947 shares in the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Stock Performance

Black Hills stock opened at $72.17 on Thursday. The company’s 50-day moving average price is $73.69 and its 200-day moving average price is $72.28. Black Hills Corporation has a twelve month low of $55.50 and a twelve month high of $78.69. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The company has a market cap of $5.49 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 2.91 and a beta of 0.72.

Black Hills (NYSE:BKH) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.09). The firm had revenue of $780.70 million for the quarter, compared to analysts’ expectations of $769.19 million. Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.87 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, equities research analysts forecast that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were paid a dividend of $0.703 per share. This represents a $2.81 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend was Friday, May 15th. Black Hills’s payout ratio is presently 73.18%.

Wall Street Analysts Forecast Growth

BKH has been the topic of a number of research analyst reports. Bank of America upgraded Black Hills from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $76.00 to $78.00 in a research report on Thursday, June 11th. Weiss Ratings downgraded Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Oppenheimer set a $78.00 target price on shares of Black Hills in a report on Thursday, June 11th. Siebert Williams Shank upgraded shares of Black Hills from a “hold” rating to a “buy” rating and boosted their target price for the stock from $79.00 to $82.00 in a report on Thursday, March 12th. Finally, BMO Capital Markets boosted their target price on shares of Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $81.17.

Insider Buying and Selling

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of Black Hills stock in a transaction on 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 $807,958.92. The trade was a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by insiders.

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.