Envestnet Asset Management Inc. Buys 10,040 Shares of Black Hills Corporation $BKH

Envestnet Asset Management Inc. grew its position in Black Hills Corporation (NYSE:BKH) by 19.4% in the third quarter, Holdings Channel reports. The fund owned 61,708 shares of the utilities provider’s stock after acquiring an additional 10,040 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Black Hills were worth $3,801,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of BKH. Spire Wealth Management grew its position in Black Hills by 4,115.4% during the 2nd quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 535 shares during the last quarter. TD Waterhouse Canada Inc. acquired a new stake in shares of Black Hills during the second quarter valued at about $31,000. Blue Trust Inc. grew its holdings in shares of Black Hills by 37.8% during the third quarter. Blue Trust Inc. now owns 641 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 176 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Black Hills by 44.0% during the second quarter. Geneos Wealth Management Inc. now owns 1,037 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 317 shares during the last quarter. Finally, Westfuller Advisors LLC acquired a new position in shares of Black Hills in the third quarter valued at approximately $84,000. Institutional investors and hedge funds own 86.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Scotiabank raised shares of Black Hills from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $66.00 to $81.00 in a report on Friday, November 7th. BMO Capital Markets lifted their price target on shares of Black Hills from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, February 9th. Wall Street Zen downgraded Black Hills from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Black Hills in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $76.33.

Black Hills Trading Up 0.3%

BKH opened at $73.67 on Wednesday. Black Hills Corporation has a twelve month low of $54.92 and a twelve month high of $75.87. The company has a fifty day moving average of $71.72 and a 200-day moving average of $66.88. The stock has a market cap of $5.56 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.87 and a beta of 0.75. The company has a quick ratio of 1.11, a current ratio of 1.35 and a debt-to-equity ratio of 1.23.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, February 4th. The utilities provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.37 by $0.04. Black Hills had a return on equity of 7.95% and a net margin of 12.62%.The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. On average, sell-side analysts predict that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be paid a $0.703 dividend. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. This is a positive change from Black Hills’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Tuesday, February 17th. Black Hills’s payout ratio is 70.60%.

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.