Black Hills Corporation $BKH Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Black Hills Corporation (NYSE:BKH) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 603,142 shares of the utilities provider’s stock after selling 132,872 shares during the period. ProShare Advisors LLC owned approximately 0.83% of Black Hills worth $41,870,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in shares of Black Hills by 0.6% during the third quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider’s stock worth $1,614,000 after buying an additional 154 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Black Hills by 11.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider’s stock worth $105,000 after buying an additional 156 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Black Hills by 4.6% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider’s stock worth $266,000 after buying an additional 168 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Black Hills by 2.5% during the second quarter. Osaic Holdings Inc. now owns 9,068 shares of the utilities provider’s stock worth $509,000 after buying an additional 222 shares during the period. Finally, Mission Wealth Management LP lifted its stake in shares of Black Hills by 3.8% during the fourth quarter. Mission Wealth Management LP now owns 6,216 shares of the utilities provider’s stock worth $432,000 after buying an additional 228 shares during the period. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BKH has been the subject of a number of research reports. Siebert Williams Shank raised Black Hills from a “hold” rating to a “buy” rating and lifted their target price for the stock from $79.00 to $82.00 in a report on Thursday, March 12th. Bank of America lifted their target price on Black Hills from $72.00 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. BMO Capital Markets lifted their target price on Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a report on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Black Hills currently has an average rating of “Moderate Buy” and an average target price of $81.40.

Black Hills Trading Down 0.9%

NYSE BKH opened at $73.35 on Wednesday. The company has a market capitalization of $5.58 billion, a PE ratio of 19.10, a P/E/G ratio of 2.93 and a beta of 0.74. The company has a fifty day moving average of $72.63 and a 200 day moving average of $71.75. Black Hills Corporation has a 1 year low of $55.49 and a 1 year high of $78.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The business had revenue of $780.70 million for the quarter, compared to analyst estimates of $769.19 million. During the same quarter in the prior year, the firm earned $1.87 earnings per share. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Research analysts forecast that Black Hills Corporation will post 4.34 earnings per share for the current year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.703 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. Black Hills’s payout ratio is presently 73.18%.

About Black Hills

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.