BLACK HILLS CORP /SD/
At today's price, BLACK HILLS CORP /SD/ (BKH) is priced for -3.2% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
Black Hills is a regulated electric and gas utility with a 56-year dividend-increase record, a structural monopoly franchise, and cost-recovery mechanisms that pass commodity costs through to customers. Growth rests on rate base: a data-center pipeline of more than 3 gigawatts (1.8 gigawatts reserved) supports 2026 adjusted EPS guidance of 4.25 to 4.45 dollars and a long-term target in the upper half of 4 to 6 percent. The risk is the balance sheet: about 4.63 billion dollars of net debt at 8.
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456 institutional managers reported holding BKH in 13F filings for the quarter ended 2026-03-31. 53 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 8.6M shares were sold short as of the 2026-06-15 count, about 11% of shares outstanding (6.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
BKH's share count grew 19.9% over the past five years. It pays a dividend, and has paid one every year in our records (17 and counting), raised 13 years straight; the current rate is $2.70 a share annually. Cash returned over the past three years: $518.29M in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at BKH over the trailing three years. Absence is a fact about the company, not a signal. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
BKH's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-04 | -2.3% | -15.0% |
| 2023-11-03 | +3.2% | +7.2% |
| 2024-02-15 | +2.7% | +0.2% |
| 2024-05-10 | +1.5% | +0.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
BKH's latest 8-K filings: 2026-05-15 (items 8.01, 9.01); 2026-05-06 (items 2.02, 9.01); 2026-05-01 (items 5.07); 2026-04-02 (items 5.07, 7.01, 9.01); 2026-02-19 (items 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.