Benson Investment Management Company Inc. Makes New $4.38 Million Investment in Black Hills Corporation $BKH

Benson Investment Management Company Inc. bought a new stake in Black Hills Corporation (NYSE:BKH) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 78,135 shares of the utilities provider’s stock, valued at approximately $4,383,000. Benson Investment Management Company Inc. owned approximately 0.11% of Black Hills as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. IMA Advisory Services Inc. acquired a new position in Black Hills during the first quarter valued at $30,000. Clearstead Trust LLC acquired a new stake in Black Hills during the 1st quarter worth about $30,000. GAMMA Investing LLC boosted its position in Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 225 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Black Hills during the 2nd quarter worth about $43,000. Finally, Hilltop National Bank acquired a new stake in Black Hills during the 2nd quarter worth about $50,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BKH shares. Weiss Ratings restated a “hold (c)” rating on shares of Black Hills in a research report on Wednesday. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.00.

Black Hills Trading Down 1.1%

Shares of NYSE BKH opened at $60.39 on Friday. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.83 and a beta of 0.73. The business has a 50 day simple moving average of $60.00 and a 200 day simple moving average of $58.80. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $65.59. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64.

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

Black Hills Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.676 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.5%. Black Hills’s payout ratio is presently 68.01%.

Black Hills Company Profile

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.