BlackRock Fund Advisors recently announced the acquisition of new stake in Black Hills Corporation (NYSE:BKH). The institutional investor has increased its shareholding in the Utilities company by 0.50% to 9.06 million shares with purchase of 45192.0 shares. This fresh investment now brings its stake to 13.32% valued currently at $467.2 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.28 million to 7.68 million shares. And Capital Research & Management Co has lifted its position by 36.16% or 0.74 million shares – to 2.78 million shares.
With over 0.46 million Black Hills Corporation (BKH) shares trading Friday and a closing price of $54.32 on the day, the dollar volume was approximately $24.76 million. The shares have shown a negative half year performance of -9.75% and its price on 12/22/23 gained nearly 0.74%. Currently, there are 67.99M common shares owned by the public and among those 67.56M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 6 analysts who have offered their price forecasts for BKH have a consensus price objective of $58.17. The analysts have set the share’s price value over the next 12 months at a high of $77.00 and a low of $49.00. The average price target is 6.62% above its recent price level and a downside to the estimated low will see the stock lose -10.86% over that period. But an upside of 29.45% will see the stock hit the forecast high price target while median target price for the stock is $54.50.
Insiders at the company have transacted a total of 53 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 37,929 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 19,348 shares.
The top 3 mutual fund holders in Black Hills Corporation are American Funds Small Cap World Fu, Vanguard Total Stock Market ETF, and iShares Core S&P Mid Cap ETF. American Funds Small Cap World Fu owns 2.58 million shares of the company’s stock, all valued at over $133.1 million. The company bought an additional 0.54 million shares recently to bring their total holdings to about 3.79% of the shares outstanding. Vanguard Total Stock Market ETF bought 3676.0 shares to see its total holdings expand to 2.1 million shares valued at over $108.14 million and representing 3.08% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 367.0 shares to bring its total holdings to over 2.07 million shares at a value of $106.8 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 3.05% of the shares outstanding.
Shares of Black Hills Corporation (NYSE: BKH) opened at $54.51, up $0.59 from a prior closing price of $53.92. However, the script later moved the day high at 55.24, up 0.74%. The company’s stock has a 5-day price change of -0.55% and 1.02% over the past three months. BKH shares are trading -22.78% year to date (YTD), with the 12-month market performance down to -22.04% lower. It has a 12-month low price of $46.43 and touched a high of $73.98 over the same period. BKH has an average intraday trading volume of 568.54K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.45%, 5.71%, and -5.62% respectively.
Institutional ownership of Black Hills Corporation (NYSE: BKH) shares accounts for 86.04% of the company’s 67.99M shares outstanding. Mutual fund holders own 28.94%, while other institutional holders and individual stakeholders account for 57.26% and 1.87% respectively.
It has a market capitalization of $3.69B and a beta (3y monthly) value of 0.66. The stock’s trailing 12-month PE ratio is 14.10, while the earnings-per-share (ttm) stands at $3.85. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.00% over the week and 2.07% over the month.
Analysts forecast that Black Hills Corporation (BKH) will achieve an EPS of $Baker Hughes Company for the current quarter, $34.12 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Global X Blockchain ETF while analysts give the company a high EPS estimate of $KB Home. Comparatively, EPS for the current quarter was $Black Hills Corporation a year ago. Earnings per share for the fiscal year are expected to decrease by -4.49%, and 2.26% over the next financial year. EPS should shrink at an annualized rate of -0.10% over the next five years, compared to 4.36% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Black Hills Corporation (BKH) as a “Moderate Buy” at a consensus score of 2.83. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BKH, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on November 21, 2023, with the firm’s price target at $53.
