Black Hills Corporation $BKH Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its stake in Black Hills Corporation (NYSE:BKH) by 99.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 498 shares of the utilities provider’s stock after selling 232,450 shares during the quarter. Bessemer Group Inc.’s holdings in Black Hills were worth $31,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management increased its stake in shares of Black Hills by 4,115.4% during the second quarter. Spire Wealth Management now owns 548 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 535 shares in the last quarter. TD Waterhouse Canada Inc. acquired a new stake in Black Hills in the 2nd quarter worth about $31,000. Blue Trust Inc. increased its stake in Black Hills by 37.8% during the 3rd quarter. Blue Trust Inc. now owns 641 shares of the utilities provider’s stock worth $39,000 after buying an additional 176 shares in the last quarter. Geneos Wealth Management Inc. raised 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 valued at $58,000 after acquiring an additional 317 shares during the last quarter. Finally, Westfuller Advisors LLC purchased a new position in shares of Black Hills in the third quarter valued at approximately $84,000. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

Black Hills stock opened at $74.03 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.11 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average price of $71.41 and a 200 day moving average price of $66.17. Black Hills Corporation has a 12-month low of $54.92 and a 12-month high of $75.87. The stock has a market cap of $5.59 billion, a P/E ratio of 18.60, a PEG ratio of 2.89 and a beta of 0.75.

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

Black Hills Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Tuesday, February 17th will be given a $0.703 dividend. This is an increase from Black Hills’s previous quarterly dividend of $0.68. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, February 17th. Black Hills’s dividend payout ratio (DPR) is presently 67.84%.

Analysts Set New Price Targets

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

Black Hills 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.