Burney Co. Reduces Position in Black Hills Corporation $BKH

Burney Co. decreased its holdings in Black Hills Corporation (NYSE:BKH) by 30.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,944 shares of the utilities provider’s stock after selling 24,791 shares during the period. Burney Co. owned 0.07% of Black Hills worth $3,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. O Domhnaill Enterprises Inc. bought a new stake in shares of Black Hills during the 1st quarter valued at $213,000. DGS Capital Management LLC boosted its stake in Black Hills by 20.9% in the 1st quarter. DGS Capital Management LLC now owns 4,027 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 697 shares during the period. Burford Brothers Inc. grew its holdings in Black Hills by 19.2% during the 1st quarter. Burford Brothers Inc. now owns 15,120 shares of the utilities provider’s stock valued at $1,049,000 after buying an additional 2,437 shares in the last quarter. Capital Financial Group Inc. Co. ADV grew its holdings in Black Hills by 0.8% during the 1st quarter. Capital Financial Group Inc. Co. ADV now owns 22,121 shares of the utilities provider’s stock valued at $1,535,000 after buying an additional 171 shares in the last quarter. Finally, Lesa Sroufe & Co increased its position in shares of Black Hills by 1.2% during the first quarter. Lesa Sroufe & Co now owns 46,831 shares of the utilities provider’s stock valued at $3,251,000 after buying an additional 574 shares during the period. Institutional investors own 86.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BKH. Oppenheimer set a $78.00 price objective on shares of Black Hills in a research report on Thursday, June 11th. BMO Capital Markets upped their target price on shares of Black Hills from $84.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, April 15th. Siebert Williams Shank upgraded shares of Black Hills from a “hold” rating to a “buy” rating and increased their target price for the stock from $79.00 to $82.00 in a research note on Thursday, March 12th. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, June 24th. Finally, LADENBURG THALM/SH SH started coverage on shares of Black Hills in a research report on Wednesday, April 1st. They set a “buy” rating and a $77.00 price target for the company. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Hills currently has a consensus rating of “Buy” and an average price target of $81.17.

Insider Activity

In other news, Director Robert P. Otto sold 4,109 shares of the company’s stock in a transaction dated 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 represents a 27.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.

Black Hills Trading Up 1.6%

Shares of Black Hills stock opened at $73.32 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.65 and a quick ratio of 0.53. Black Hills Corporation has a 1 year low of $55.79 and a 1 year high of $78.69. The firm has a market cap of $5.58 billion, a PE ratio of 19.09, a PEG ratio of 2.85 and a beta of 0.71. The company has a 50 day simple moving average of $73.49 and a two-hundred day simple moving average of $72.53.

Black Hills (NYSE:BKH) last issued its quarterly 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 return on equity of 7.77% and a net margin of 12.61%.The company had revenue of $780.70 million during the quarter, compared to the consensus estimate of $769.19 million. During the same period in the previous year, the company earned $1.87 EPS. Black Hills’s quarterly revenue was down 3.0% on a year-over-year basis. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Analysts expect that Black Hills Corporation will post 4.34 earnings per share for the current fiscal year.

Black Hills Dividend Announcement

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

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.