Asset Planning Inc Takes $79,000 Position in Black Hills Corporation $BKH

Asset Planning Inc purchased a new stake in Black Hills Corporation (NYSE:BKH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,410 shares of the utilities provider’s stock, valued at approximately $79,000.

Other institutional investors and hedge funds have also modified their holdings of the company. IMA Advisory Services Inc. acquired a new position in shares of Black Hills in the 1st quarter valued at approximately $30,000. Clearstead Trust LLC acquired a new position in shares of Black Hills in the 1st quarter valued at approximately $30,000. GAMMA Investing LLC grew its position in shares of Black Hills by 59.2% in 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 period. Ameritas Advisory Services LLC acquired a new position in shares of Black Hills in the 2nd quarter valued at approximately $43,000. Finally, Hilltop National Bank acquired a new position in shares of Black Hills in the 2nd quarter valued at approximately $50,000. 86.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Hills in a research report on Wednesday. Bank of America upgraded Black Hills from an “underperform” rating to a “neutral” rating and boosted their price objective 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 three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Black Hills presently has a consensus rating of “Hold” and an average target price of $66.00.

Black Hills Stock Performance

Shares of BKH opened at $60.39 on Friday. Black Hills Corporation has a 12 month low of $54.92 and a 12 month high of $65.59. The firm has a fifty day simple moving average of $60.00 and a 200 day simple moving average of $58.80. The stock has a market capitalization of $4.40 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 2.80 and a beta of 0.73. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06.

Black Hills (NYSE:BKH) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The business had revenue of $439.00 million during the quarter, compared to analysts’ expectations of $412.69 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Research analysts forecast 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 issued a dividend of $0.676 per share. The ex-dividend date was Monday, August 18th. This represents a $2.70 annualized dividend and a yield of 4.5%. Black Hills’s dividend payout ratio 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.