Ballentine Partners LLC Sells 268 Shares of Black Hills Corporation $BKH

Ballentine Partners LLC lessened its stake in Black Hills Corporation (NYSE:BKH) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,689 shares of the utilities provider’s stock after selling 268 shares during the period. Ballentine Partners LLC’s holdings in Black Hills were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Black Hills by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 8,634,076 shares of the utilities provider’s stock valued at $523,657,000 after buying an additional 31,853 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Black Hills by 1.7% in the 1st quarter. AQR Capital Management LLC now owns 888,412 shares of the utilities provider’s stock valued at $53,829,000 after buying an additional 14,437 shares during the last quarter. Nuveen LLC bought a new stake in shares of Black Hills in the 1st quarter valued at about $43,690,000. Victory Capital Management Inc. grew its position in shares of Black Hills by 18.2% in the 1st quarter. Victory Capital Management Inc. now owns 652,003 shares of the utilities provider’s stock valued at $39,544,000 after buying an additional 100,421 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Black Hills by 25.1% in the 1st quarter. Millennium Management LLC now owns 579,797 shares of the utilities provider’s stock valued at $35,165,000 after buying an additional 116,338 shares during the last quarter. Institutional investors own 86.71% of the company’s stock.

Wall Street Analyst Weigh In

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

Black Hills Stock Performance

Shares of Black Hills stock opened at $61.12 on Tuesday. The company has a market cap of $4.45 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 2.82 and a beta of 0.74. Black Hills Corporation has a 52 week low of $54.92 and a 52 week high of $65.59. The business has a 50 day moving average price of $59.33 and a 200-day moving average price of $58.74. The company has a quick ratio of 0.49, a current ratio of 0.64 and a debt-to-equity ratio of 1.06.

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

Black Hills Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, August 18th. Black Hills’s dividend payout ratio (DPR) is presently 68.01%.

Black Hills 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.