Intech Investment Management LLC Grows Stake in Black Hills Corporation $BKH

Intech Investment Management LLC raised its stake in Black Hills Corporation (NYSE:BKH) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,120 shares of the utilities provider’s stock after acquiring an additional 5,859 shares during the quarter. Intech Investment Management LLC’s holdings in Black Hills were worth $2,009,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IMA Advisory Services Inc. bought a new stake in shares of Black Hills in the first quarter valued at approximately $30,000. Clearstead Trust LLC bought a new position in shares of Black Hills during the 1st quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Black Hills by 59.2% during the 1st quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 225 shares during the last quarter. Byrne Asset Management LLC grew its holdings in shares of Black Hills by 238.0% during the 1st quarter. Byrne Asset Management LLC now owns 845 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 595 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Black Hills during the first quarter valued at about $59,000. Institutional investors own 86.71% of the company’s stock.

Black Hills Stock Down 2.0%

Shares of Black Hills stock opened at $58.28 on Wednesday. The company has a 50-day simple moving average of $58.88 and a two-hundred day simple moving average of $58.79. Black Hills Corporation has a 52-week low of $54.92 and a 52-week high of $65.59. The stock has a market capitalization of $4.25 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.49 and a current ratio of 0.64.

Black Hills (NYSE:BKH) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm had revenue of $439.00 million during the quarter, compared to analyst estimates of $412.69 million. During the same period in the previous year, the business posted $0.33 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. On average, analysts anticipate that Black Hills Corporation will post 4.12 EPS for the current fiscal year.

Black Hills Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.676 per share. This represents a $2.70 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, August 18th. Black Hills’s payout ratio is 68.01%.

Analysts Set New Price Targets

Separately, Bank of America raised shares of Black Hills from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $57.00 to $64.00 in a research report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $66.00.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.