Black Hills Corporation $BKH Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its stake in Black Hills Corporation (NYSE:BKH) by 99.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 498 shares of the utilities provider’s stock after selling 232,450 shares during the quarter. Bessemer Group Inc.’s holdings in Black Hills were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Black Hills by 84.8% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,944 shares of the utilities provider’s stock valued at $976,000 after purchasing an additional 7,314 shares in the last quarter. AlphaQuest LLC acquired a new stake in Black Hills during the 3rd quarter worth approximately $1,354,000. Polaris Capital Management LLC purchased a new position in Black Hills in the 3rd quarter valued at approximately $2,242,000. Paradiem LLC grew its stake in shares of Black Hills by 858.5% in the third quarter. Paradiem LLC now owns 234,833 shares of the utilities provider’s stock worth $14,463,000 after acquiring an additional 210,333 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Black Hills by 294.8% during the second quarter. SG Americas Securities LLC now owns 262,011 shares of the utilities provider’s stock worth $14,699,000 after acquiring an additional 195,640 shares during the period. Hedge funds and other institutional investors own 86.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BKH. Scotiabank upgraded Black Hills from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $66.00 to $81.00 in a research note on Friday, November 7th. BMO Capital Markets increased their price target on Black Hills from $82.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Black Hills in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Black Hills from a “hold” rating to a “sell” rating in a research note on Saturday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Black Hills currently has a consensus rating of “Moderate Buy” and an average price target of $76.33.

Black Hills Stock Performance

Shares of BKH opened at $74.03 on Monday. The stock has a 50 day moving average price of $71.41 and a 200 day moving average price of $66.17. The company has a quick ratio of 1.11, a current ratio of 1.35 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $75.87.

Black Hills (NYSE:BKH) last issued its quarterly earnings data on Wednesday, February 4th. The utilities provider reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.04. Black Hills had a net margin of 12.62% and a return on equity of 7.95%. The firm’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Research analysts predict that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.703 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is a positive change from Black Hills’s previous quarterly dividend of $0.68. This represents a $2.81 annualized dividend and a dividend yield of 3.8%. Black Hills’s dividend payout ratio is 67.84%.

Black Hills Company 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.