Resolution Capital Ltd Makes New $11.92 Million Investment in Black Hills Corporation $BKH

Resolution Capital Ltd bought a new stake in shares of Black Hills Corporation (NYSE:BKH) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 171,708 shares of the utilities provider’s stock, valued at approximately $11,918,000. Black Hills accounts for 0.3% of Resolution Capital Ltd’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds also recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in shares of Black Hills during the third quarter valued at $45,000. First Horizon Corp raised its position in Black Hills by 192.8% during the fourth quarter. First Horizon Corp now owns 773 shares of the utilities provider’s stock valued at $54,000 after buying an additional 509 shares during the period. Smartleaf Asset Management LLC lifted its stake in 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 acquiring an additional 274 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Black Hills in the 1st quarter worth about $67,000. Finally, Geneos Wealth Management Inc. boosted its position in Black Hills by 44.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 317 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Black Hills Price Performance

BKH opened at $74.89 on Wednesday. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 2.95 and a beta of 0.71. Black Hills Corporation has a 1 year low of $55.79 and a 1 year high of $78.69. The company has a current ratio of 0.65, a quick ratio of 0.53 and a debt-to-equity ratio of 0.99. The stock has a fifty day moving average price of $73.62 and a 200 day moving average price of $73.09.

Black Hills (NYSE:BKH) last issued 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). Black Hills had a net margin of 12.61% and a return on equity of 7.77%. The firm had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $769.19 million. During the same quarter last year, the firm earned $1.87 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts forecast that Black Hills Corporation will post 4.34 EPS for the current fiscal year.

Black Hills Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a $0.703 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. Black Hills’s payout ratio is presently 73.18%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Oppenheimer set a $78.00 target price on Black Hills in a research note on Thursday, June 11th. LADENBURG THALM/SH SH began coverage on shares of Black Hills in a research report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price target for the company. BMO Capital Markets decreased their price target on shares of Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Black Hills from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Bank of America upped their price objective on shares of Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $81.67.

Insider Activity at Black Hills

In related news, Director Robert P. Otto sold 4,109 shares of the stock in a transaction that occurred 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 owned 10,886 shares in the company, valued at approximately $807,958.92. This represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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.