SummitTX Capital L.P. Grows Stake in Black Hills Corporation $BKH

SummitTX Capital L.P. increased its position in shares of Black Hills Corporation (NYSE:BKH) by 29.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,158 shares of the utilities provider’s stock after purchasing an additional 13,385 shares during the quarter. SummitTX Capital L.P. owned 0.08% of Black Hills worth $4,106,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BKH. State Street Corp increased its position in shares of Black Hills by 0.8% in the second quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock valued at $215,515,000 after buying an additional 31,093 shares in the last quarter. Capital Research Global Investors boosted 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 buying an additional 634,800 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Black Hills by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after buying an additional 55,232 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Black Hills by 176.9% in 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 acquiring an additional 1,017,000 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Black Hills by 3.2% in the 4th quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock valued at $98,464,000 after acquiring an additional 44,334 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 sale, the director directly owned 10,886 shares in the company, valued at $807,958.92. The trade was a 27.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.56% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America raised their target price on shares of Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a report on Friday, July 10th. LADENBURG THALM/SH SH assumed coverage on shares of Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price target on the stock. Wall Street Zen lowered shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Oppenheimer set a $78.00 price objective on shares of Black Hills in a research note on Thursday, June 11th. Finally, BMO Capital Markets dropped their price objective on shares of 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $81.67.

Black Hills Stock Down 0.8%

Shares of NYSE:BKH opened at $74.69 on Tuesday. 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 capitalization of $5.69 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.98 and a beta of 0.71. Black Hills Corporation has a 52-week low of $55.79 and a 52-week high of $78.69. The stock’s fifty day simple moving average is $73.59 and its 200-day simple moving average is $73.07.

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 analysts’ consensus estimates of $1.88 by ($0.09). Black Hills had a return on equity of 7.77% and a net margin of 12.61%.The company had revenue of $780.70 million for the quarter, compared to analysts’ expectations of $769.19 million. During the same quarter in the prior year, the business posted $1.87 EPS. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, equities research analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Company 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.