Black Hills Corporation $BKH Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp raised its holdings in Black Hills Corporation (NYSE:BKH) by 4,136.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 32,284 shares of the utilities provider’s stock after acquiring an additional 31,522 shares during the quarter. Fifth Third Bancorp’s holdings in Black Hills were worth $2,241,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Zimmer Partners LP raised its stake in shares of Black Hills by 2,100.0% in the third quarter. Zimmer Partners LP now owns 1,100,020 shares of the utilities provider’s stock valued at $67,750,000 after acquiring an additional 1,050,020 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Black Hills by 176.9% during the 4th 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 purchasing an additional 1,017,000 shares in the last quarter. Engineers Gate Manager LP increased its holdings in Black Hills by 17,790.3% during the 4th quarter. Engineers Gate Manager LP now owns 849,073 shares of the utilities provider’s stock worth $58,943,000 after purchasing an additional 844,327 shares during the period. Balyasny Asset Management L.P. raised its position in Black Hills by 10,853.0% in the 3rd quarter. Balyasny Asset Management L.P. now owns 664,080 shares of the utilities provider’s stock valued at $40,901,000 after purchasing an additional 658,017 shares in the last quarter. Finally, Capital Research Global Investors raised its position in Black Hills by 38.7% in the 4th quarter. Capital Research Global Investors now owns 2,275,922 shares of the utilities provider’s stock valued at $157,995,000 after purchasing an additional 634,800 shares in the last quarter. Institutional investors and hedge funds own 86.71% of the company’s stock.

Black Hills Trading Down 0.2%

NYSE BKH opened at $74.30 on Wednesday. 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 stock has a market capitalization of $5.66 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.95 and a beta of 0.71. Black Hills Corporation has a 52-week low of $55.79 and a 52-week high of $78.69. The firm has a 50-day moving average price of $73.49 and a 200 day moving average price of $72.91.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.09). The business had revenue of $780.70 million during the quarter, compared to analysts’ expectations of $769.19 million. Black Hills had a net margin of 12.61% and a return on equity of 7.77%. Black Hills’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.87 EPS. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities research analysts expect that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a dividend of $0.703 per share. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Black Hills’s dividend payout ratio is currently 73.18%.

Insider Transactions at Black Hills

In other Black Hills news, Director Robert P. Otto sold 4,109 shares of the 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 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Wall Street Analyst Weigh In

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

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.