Royal Bank of Canada Decreases Stock Position in Black Hills Corporation $BKH

Royal Bank of Canada cut its position in Black Hills Corporation (NYSE:BKH) by 8.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 103,103 shares of the utilities provider’s stock after selling 9,342 shares during the period. Royal Bank of Canada’s holdings in Black Hills were worth $7,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. State Street Corp raised its stake in Black Hills by 0.8% in the 2nd quarter. State Street Corp now owns 3,841,615 shares of the utilities provider’s stock valued at $215,515,000 after purchasing an additional 31,093 shares during the last quarter. Capital Research Global Investors boosted its stake in Black Hills by 38.7% during the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock worth $157,995,000 after purchasing an additional 634,800 shares during the last quarter. Geode Capital Management LLC boosted its stake in Black Hills by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,894,539 shares of the utilities provider’s stock worth $131,548,000 after purchasing an additional 55,232 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Black Hills by 176.9% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,592,000 shares of the utilities provider’s stock worth $110,517,000 after buying an additional 1,017,000 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Black Hills by 3.2% in the fourth quarter. AQR Capital Management LLC now owns 1,418,384 shares of the utilities provider’s stock valued at $98,464,000 after buying an additional 44,334 shares during the last quarter. 86.71% of the stock is currently owned by hedge funds and other institutional investors.

Black Hills Trading Down 1.4%

Shares of BKH stock opened at $73.58 on Tuesday. Black Hills Corporation has a fifty-two week low of $58.06 and a fifty-two week high of $78.69. The company has a 50 day moving average price of $73.42 and a 200 day moving average price of $73.12. The stock has a market capitalization of $5.60 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52.

Black Hills (NYSE:BKH) last released its earnings results on Wednesday, August 5th. The utilities provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.13. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The company had revenue of $452.80 million for the quarter, compared to analyst estimates of $490.89 million. During the same period in the prior year, the business earned $0.38 EPS. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts predict that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be paid a $0.703 dividend. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 17th. Black Hills’s dividend payout ratio (DPR) is presently 70.96%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Wall Street Zen raised shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Bank of America raised their target price on shares of Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, July 10th. Oppenheimer set a $78.00 target price on Black Hills in a report on Thursday, June 11th. Finally, BMO Capital Markets lowered their target price on Black Hills from $86.00 to $85.00 and set an “outperform” rating on the stock in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $81.67.

Insider Activity

In related news, Director Robert P. Otto sold 4,109 shares of Black Hills 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 completion of the transaction, the director directly owned 10,886 shares in the company, valued at approximately $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.56% of the company’s stock.

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.