Black Hills Corporation $BKH Shares Sold by Ridgewood Investments LLC

Ridgewood Investments LLC lowered its position in Black Hills Corporation (NYSE:BKH) by 65.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,524 shares of the utilities provider’s stock after selling 2,933 shares during the quarter. Ridgewood Investments LLC’s holdings in Black Hills were worth $85,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BKH. IMA Advisory Services Inc. acquired a new position in Black Hills in the 1st quarter worth $30,000. Clearstead Trust LLC acquired a new position in Black Hills in the 1st quarter worth $30,000. GAMMA Investing LLC lifted its holdings in Black Hills by 59.2% in the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock worth $37,000 after buying an additional 225 shares in the last quarter. Byrne Asset Management LLC raised its stake in shares of Black Hills by 238.0% in the 1st quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 595 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Black Hills in the 1st quarter valued at about $59,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Price Performance

NYSE BKH opened at $58.95 on Tuesday. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $65.59. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 2.71 and a beta of 0.74. The company has a 50-day moving average price of $59.00 and a two-hundred day moving average price of $58.73.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $412.69 million. During the same quarter in the prior year, the firm earned $0.33 EPS. Black Hills’s quarterly revenue was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Analysts forecast that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.676 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.6%. Black Hills’s dividend payout ratio (DPR) is 68.01%.

Wall Street Analysts Forecast Growth

Separately, Bank of America upgraded shares of Black Hills from an “underperform” rating to a “neutral” rating and upped their target price for the company from $57.00 to $64.00 in a research note on Wednesday, August 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.00.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.