Alta Capital Management LLC Buys 3,242 Shares of Black Hills Corporation $BKH

Alta Capital Management LLC grew its stake in Black Hills Corporation (NYSE:BKHFree Report) by 5.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,957 shares of the utilities provider’s stock after acquiring an additional 3,242 shares during the quarter. Alta Capital Management LLC owned 0.08% of Black Hills worth $3,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BKH. Journey Strategic Wealth LLC grew its stake in shares of Black Hills by 4.1% during the 1st quarter. Journey Strategic Wealth LLC now owns 4,367 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 172 shares in the last quarter. Financial Counselors Inc. grew its stake in shares of Black Hills by 0.3% during the 1st quarter. Financial Counselors Inc. now owns 54,175 shares of the utilities provider’s stock worth $3,286,000 after acquiring an additional 176 shares in the last quarter. Xponance Inc. grew its stake in shares of Black Hills by 1.9% during the 1st quarter. Xponance Inc. now owns 10,218 shares of the utilities provider’s stock worth $620,000 after acquiring an additional 188 shares in the last quarter. State of Michigan Retirement System grew its stake in shares of Black Hills by 1.2% during the 1st quarter. State of Michigan Retirement System now owns 17,100 shares of the utilities provider’s stock worth $1,037,000 after acquiring an additional 200 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of Black Hills by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,219,000 after acquiring an additional 200 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BKH. Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Hills in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.00.

View Our Latest Analysis on BKH

Black Hills Trading Up 1.6%

NYSE BKH opened at $62.02 on Thursday. The company has a market cap of $4.52 billion, a PE ratio of 15.62, a PEG ratio of 2.83 and a beta of 0.73. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The stock has a 50 day moving average of $60.11 and a 200-day moving average of $58.83.

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

Black Hills Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a dividend of $0.676 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.4%. Black Hills’s dividend payout ratio (DPR) is currently 68.01%.

Black Hills Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Black Hills (NYSE:BKH)

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