Intech Investment Management LLC Trims Stock Position in Black Hills Corporation $BKH

Intech Investment Management LLC lowered its position in shares of Black Hills Corporation (NYSE:BKH) by 28.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,509 shares of the utilities provider’s stock after selling 11,759 shares during the period. Intech Investment Management LLC’s holdings in Black Hills were worth $2,049,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BKH. Zimmer Partners LP grew its stake in Black Hills by 2,100.0% during the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock valued at $67,750,000 after acquiring an additional 1,050,020 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Black Hills by 10,853.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock worth $40,901,000 after buying an additional 658,017 shares in the last quarter. AQR Capital Management LLC grew its stake in Black Hills by 52.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,374,050 shares of the utilities provider’s stock worth $84,628,000 after buying an additional 474,947 shares in the last quarter. Two Sigma Investments LP grew its stake in Black Hills by 220.7% in the 3rd quarter. Two Sigma Investments LP now owns 525,653 shares of the utilities provider’s stock worth $32,375,000 after buying an additional 361,751 shares in the last quarter. Finally, Crawford Investment Counsel Inc. grew its stake in Black Hills by 264.8% in the 3rd quarter. Crawford Investment Counsel Inc. now owns 447,651 shares of the utilities provider’s stock worth $27,571,000 after buying an additional 324,931 shares in the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Insider Activity

In other news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $74.22, for a total value of $304,969.98. Following the completion of the sale, the director owned 10,886 shares of the company’s stock, valued at approximately $807,958.92. This represents a 27.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

BKH has been the subject of a number of research reports. Bank of America boosted their price target on shares of Black Hills from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. BMO Capital Markets boosted their price target on shares of Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 15th. Wall Street Zen cut shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. LADENBURG THALM/SH SH initiated coverage on shares of Black Hills in a research note on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price target for the company. Finally, Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, May 21st. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.40.

Black Hills Price Performance

Shares of Black Hills stock opened at $71.44 on Thursday. Black Hills Corporation has a 52-week low of $55.49 and a 52-week high of $78.69. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.85 and a beta of 0.72. The company has a fifty day moving average of $73.17 and a 200-day moving average of $72.19. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.53 and a current ratio of 0.65.

Black Hills (NYSE:BKH) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $769.19 million. During the same period last year, the company posted $1.87 EPS. Black Hills’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. Equities research analysts expect that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were paid a $0.703 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.9%. Black Hills’s dividend payout ratio is 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.