Black Hills Corporation $BKH Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp increased its stake in Black Hills Corporation (NYSE:BKH) by 4,136.7% in the 1st quarter, according to the company in its most recent filing with the SEC. 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 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. Meeder Advisory Services Inc. increased its stake in shares of Black Hills by 1.6% during the fourth quarter. Meeder Advisory Services Inc. now owns 9,192 shares of the utilities provider’s stock worth $638,000 after purchasing an additional 145 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Black Hills by 0.6% during the third quarter. Van ECK Associates Corp now owns 26,208 shares of the utilities provider’s stock valued at $1,614,000 after acquiring an additional 154 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Black Hills by 11.5% during the fourth quarter. Farther Finance Advisors LLC now owns 1,516 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 156 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Black Hills by 4.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,827 shares of the utilities provider’s stock valued at $266,000 after acquiring an additional 168 shares in the last quarter. Finally, Capital Financial Group Inc. Co. ADV lifted its position in shares of Black Hills by 0.8% in the first quarter. Capital Financial Group Inc. Co. ADV now owns 22,121 shares of the utilities provider’s stock valued at $1,535,000 after acquiring an additional 171 shares in the last quarter. 86.71% of the stock is owned by hedge funds and other institutional investors.

Black Hills Price Performance

NYSE:BKH opened at $74.30 on Wednesday. Black Hills Corporation has a 52 week low of $55.79 and a 52 week high of $78.69. 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 company 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. The stock’s fifty day moving average is $73.49 and its two-hundred day moving average is $72.91.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.79 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $769.19 million. During the same period last year, the business earned $1.87 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. Equities analysts expect that Black Hills Corporation will post 4.34 EPS for the current 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. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, May 15th. Black Hills’s dividend payout ratio is 73.18%.

Wall Street Analyst Weigh In

Several analysts recently commented on BKH shares. Bank of America boosted their price target on Black Hills from $78.00 to $87.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Oppenheimer set a $78.00 target price on shares of Black Hills in a research note on Thursday, June 11th. Weiss Ratings lowered shares of Black Hills from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 9th. BMO Capital Markets increased their target price on shares of Black Hills from $84.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Black Hills in a report on Wednesday, April 1st. They issued a “buy” rating and a $77.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $82.67.

Insider Buying and Selling

In other news, Director Robert P. Otto sold 4,109 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $74.22, for a total transaction of $304,969.98. Following the completion of the transaction, the director directly owned 10,886 shares in the company, valued at $807,958.92. This trade represents a 27.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.56% of the stock is owned by company insiders.

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.