Black Hills Corporation $BKH Stock Position Lifted by MQS Management LLC

MQS Management LLC lifted its holdings in Black Hills Corporation (NYSE:BKH) by 63.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 9,580 shares of the utilities provider’s stock after purchasing an additional 3,722 shares during the quarter. MQS Management LLC’s holdings in Black Hills were worth $537,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of BKH. Nuveen LLC bought a new position in shares of Black Hills in the first quarter worth $43,690,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Black Hills in the second quarter worth $13,464,000. Cubist Systematic Strategies LLC grew its stake in shares of Black Hills by 551.4% in the first quarter. Cubist Systematic Strategies LLC now owns 242,668 shares of the utilities provider’s stock worth $14,718,000 after purchasing an additional 205,414 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Black Hills by 625.9% in the second quarter. International Assets Investment Management LLC now owns 220,354 shares of the utilities provider’s stock worth $12,362,000 after purchasing an additional 190,000 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Black Hills in the first quarter worth $7,955,000. Institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

BKH has been the subject of several recent analyst reports. Bank of America raised Black Hills from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $57.00 to $64.00 in a research note on Wednesday, August 20th. Weiss Ratings restated a “hold (c)” rating on shares of Black Hills in a report on Friday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $66.00.

Black Hills Trading Up 1.1%

Shares of Black Hills stock opened at $66.17 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.73. The business has a fifty day simple moving average of $60.60 and a 200-day simple moving average of $59.10. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $66.26.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. Black Hills had a return on equity of 7.81% and a net margin of 12.68%.The business had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company’s 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. On average, equities analysts forecast that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

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.