395,331 Shares in Black Hills Corporation $BKH Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new position in Black Hills Corporation (NYSE:BKH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 395,331 shares of the utilities provider’s stock, valued at approximately $29,413,000.

Other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new stake in shares of Black Hills during the 2nd quarter valued at $34,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Black Hills in the 2nd quarter worth about $34,000. Advisory Services Network LLC purchased a new position in shares of Black Hills in the 3rd quarter worth about $45,000. Global Retirement Partners LLC bought a new position in Black Hills during the second quarter valued at about $56,000. Finally, Smartleaf Asset Management LLC grew its position in Black Hills by 47.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 850 shares of the utilities provider’s stock valued at $59,000 after buying an additional 274 shares during the period. Institutional investors own 86.71% of the company’s stock.

Black Hills Trading Down 0.5%

Shares of Black Hills stock opened at $73.42 on Friday. Black Hills Corporation has a 52-week low of $58.06 and a 52-week high of $78.69. The stock’s 50-day simple moving average is $73.70 and its 200 day simple moving average is $73.14. The stock has a market capitalization of $5.60 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.92 and a beta of 0.71. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.41 and a current ratio of 0.52.

Black Hills (NYSE:BKH) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.41 by $0.13. The business had revenue of $452.80 million for the quarter, compared to the consensus estimate of $490.89 million. Black Hills had a net margin of 13.01% and a return on equity of 7.98%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. Black Hills has set its FY 2026 guidance at 4.250-4.450 EPS. As a group, research analysts anticipate that Black Hills Corporation will post 4.34 EPS for the current year.

Black Hills Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be paid a dividend of $0.703 per share. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, August 17th. Black Hills’s dividend payout ratio is presently 70.96%.

Analysts Set New Price Targets

A number of research firms have weighed in on BKH. Bank of America boosted their target price on shares of Black Hills from $78.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Wall Street Zen upgraded shares of Black Hills from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Black Hills from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. Oppenheimer set a $78.00 price objective on Black Hills in a research note on Thursday, June 11th. Finally, BMO Capital Markets reduced their price objective on Black Hills from $86.00 to $85.00 and set an “outperform” rating for the company in a report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $81.67.

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.