Ceredex Value Advisors LLC Takes $10.07 Million Position in Black Hills Corporation $BKH

Ceredex Value Advisors LLC purchased a new position in shares of Black Hills Corporation (NYSE:BKH) in the second quarter, HoldingsChannel.com reports. The fund purchased 135,300 shares of the utilities provider’s stock, valued at approximately $10,066,000.

Other hedge funds have also added to or reduced their stakes in the company. Clearstead Trust LLC acquired a new position in Black Hills during the second quarter valued at approximately $34,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Black Hills in the 2nd quarter valued at $34,000. Advisory Services Network LLC bought a new position in shares of Black Hills in the 3rd quarter valued at $45,000. Global Retirement Partners LLC bought a new position in shares of Black Hills in the 2nd quarter valued at $56,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Black Hills by 44.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after buying an additional 317 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BKH shares. BMO Capital Markets dropped their price objective 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. Weiss Ratings upgraded Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Wall Street Zen raised Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Bank of America increased their target price on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Oppenheimer set a $78.00 price target on shares of Black Hills in a research note on Thursday, June 11th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Hills has an average rating of “Buy” and an average price target of $81.67.

Black Hills Price Performance

BKH stock opened at $71.71 on Friday. The company has a market capitalization of $5.47 billion, a P/E ratio of 18.11, a PEG ratio of 2.90 and a beta of 0.71. The company has a fifty day moving average price of $73.69 and a 200-day moving average price of $73.15. 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 Corporation has a 52-week low of $58.06 and a 52-week high of $78.69.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.13. The company had revenue of $452.80 million for the quarter, compared to analysts’ expectations of $490.89 million. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. Black Hills’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous 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, equities analysts expect that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Announces Dividend

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

Insider Buying and Selling at Black Hills

In other news, Director Robert P. Otto sold 4,109 shares of the 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 represents a 27.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.