Principal Financial Group Inc. Raises Stock Holdings in Black Hills Corporation $BKH

Principal Financial Group Inc. boosted its stake in shares of Black Hills Corporation (NYSE:BKH) by 96.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,946 shares of the utilities provider’s stock after purchasing an additional 157,549 shares during the quarter. Principal Financial Group Inc.’s holdings in Black Hills were worth $22,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new position in Black Hills in the third quarter worth about $45,000. First Horizon Corp boosted its holdings in shares of Black Hills by 192.8% in the 4th quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock valued at $54,000 after buying an additional 509 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Black Hills by 44.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock valued at $58,000 after buying an additional 317 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Black Hills by 47.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock worth $59,000 after buying an additional 274 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Black Hills by 42.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,179 shares of the utilities provider’s stock worth $73,000 after buying an additional 352 shares during the last quarter. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Stock Performance

BKH opened at $74.30 on Wednesday. The company has a market cap of $5.66 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71. The company has a quick ratio of 0.53, a current ratio of 0.65 and a debt-to-equity ratio of 0.99. The firm’s 50-day moving average price is $73.49 and its 200-day moving average price is $72.91. Black Hills Corporation has a 52-week low of $55.79 and a 52-week high of $78.69.

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

Black Hills Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Friday, May 15th were issued a dividend of $0.703 per share. 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 3.8%. Black Hills’s payout ratio is 73.18%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Weiss Ratings cut shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 9th. BMO Capital Markets upped their price target on Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 15th. LADENBURG THALM/SH SH initiated coverage on Black Hills in a research report on Wednesday, April 1st. They set a “buy” rating and a $77.00 price target on the stock. Wall Street Zen lowered Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Oppenheimer set a $78.00 price objective on Black Hills in a research report on Thursday, June 11th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $82.67.

Insider Buying and Selling at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total value of $304,969.98. Following the transaction, the director directly owned 10,886 shares of the company’s stock, valued at $807,958.92. This represents a 27.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by company insiders.

Black Hills Profile

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.