BKHNYSEElectric ServicesFiscal year ends December 31
BLACK HILLS CORP /SD/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$76.40−0.23 (-0.30%)
Close on Oct 19, 2026
- Market cap
- $5.81B
- P/E (TTM)
- 19.3
- Dividend yield
- 3.54%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
79M of 76M shares
Institutional holders
476
59 new, 52 sold out
Net institutional buying
2M
In Q2 2026
Insider trades, 12 months
0 buys · 2 sales
Net sold $1.33M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Portfolio Management | 5,069,144 | 6.66% | 13G (passive) | Mar 31, 2026 |
| Vanguard Capital Management | 3,974,392 | 5.22% | 13G (passive) | Mar 31, 2026 |
| State Street Corporation | 3,821,310 | 5.00% | 13G (passive) | Jun 30, 2026 |
| BlackRock, Inc. | 10,522,520 | 14.60% | 13G (passive) amendment | Mar 31, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of BKH | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 12,482,189 | 16.37% | $928.67M | +352,531 | 0.01% |
| Vanguard Portfolio Management LLC | 5,141,103 | 6.74% | $382.50M | +101,233 | 0.02% |
| State Street Corp | 3,819,510 | 5.01% | $284.17M | +198,954 | 0.01% |
| Vanguard Capital Management LLC | 3,428,442 | 4.50% | $255.08M | +58,854 | 0.01% |
| Nomura Asset Management International Inc. | 2,496,967 | 3.27% | $185.77M | −182,225 | 0.28% |
| Aqr Capital Management LLC | 2,232,003 | 2.93% | $166.06M | +636,408 | 0.06% |
| Point72 Asset Management, L.P. | 2,161,197 | 2.83% | $160.79M | +217,982 | 0.18% |
| Geode Capital Management, LLC | 2,131,386 | 2.80% | $158.61M | +136,571 | 0.01% |
| Franklin Resources Inc | 1,963,191 | 2.57% | $146.06M | +386,820 | 0.03% |
| Capital Research Global Investors | 1,825,961 | 2.39% | $135.85M | −449,961 | 0.02% |
| Two Sigma Investments, LP | 1,663,178 | 2.18% | $123.74M | −552,825 | 0.09% |
| Cohen & Steers, Inc. | 1,607,981 | 2.11% | $119.63K | +339,707 | 0.19% |
| Covalis Capital LLP | 1,481,404 | 1.94% | $110.22M | −271,442 | 6.22% |
| Engineers Gate Manager LP | 1,442,064 | 1.89% | $107.29M | +379,211 | 1.39% |
| Goldman Sachs Group Inc | 1,431,217 | 1.88% | $106.48M | −153,308 | 0.01% |
| Citadel Advisors LLC | 1,259,693 | 1.65% | $93.72M | +356,679 | 0.01% |
| Charles Schwab Investment Management Inc | 1,213,841 | 1.59% | $90.31M | −2,510 | 0.01% |
| Adage Capital Partners Gp, L.L.C. | 1,185,024 | 1.55% | $88.17M | −884,803 | 0.12% |
| Dimensional Fund Advisors LP | 1,171,138 | 1.54% | $87.14M | +29,866 | 0.02% |
| Invesco Ltd. | 1,170,367 | 1.53% | $87.08M | +109,704 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 476 | 79M | 100.0% | 59 / 202 | 133 / 52 | 8M | 5M |
| Q1 2026 | 476 | 77M | 100.0% | 67 / 185 | 141 / 44 | 19M | 6M |
| Q4 2025 | 461 | 73M | 96.2% | 80 / 175 | 137 / 43 | 16M | 9M |
| Q3 2025 | 432 | 66M | 86.8% | 64 / 163 | 133 / 39 | 10M | 6M |
| Q2 2025 | 413 | 61M | 80.6% | 51 / 171 | 128 / 47 | 4M | 4M |
| Q1 2025 | 413 | 62M | 80.8% | 58 / 163 | 126 / 41 | 4M | 3M |
| Q4 2024 | 400 | 61M | 79.9% | 48 / 157 | 125 / 34 | 5M | 4M |
| Q3 2024 | 394 | 61M | 80.2% | 57 / 149 | 122 / 33 | 15M | 3M |
| Q2 2024 | 375 | 59M | 77.9% | 33 / 166 | 116 / 47 | 3M | 6M |
| Q1 2024 | 394 | 62M | 81.8% | 64 / 163 | 115 / 32 | 7M | 5M |
| Q4 2023 | 365 | 60M | 79.3% | 71 / 134 | 107 / 45 | 7M | 5M |
| Q3 2023 | 343 | 58M | 76.2% | 45 / 118 | 125 / 32 | 6M | 6M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of BKH | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Mid-Cap ETF | 2,606,309 | 3.42% | $193.91M | 0.16% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 2,415,730 | 3.17% | $179.73M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,997,205 | 2.62% | $148.59M | 0.18% | Jun 30, 2026 |
| SMALLCAP World Fund Inc | 1,777,821 | 2.33% | $132.27M | 0.14% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 1,746,570 | 2.29% | $129.94M | 0.07% | Jun 30, 2026 |
| iShares Select Dividend ETF | 1,453,424 | 1.91% | $103.50M | 0.44% | Jul 31, 2026 |
| Vanguard Small-Cap Value Index Fund | 1,105,970 | 1.45% | $82.28M | 0.12% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 872,981 | 1.14% | $64.95M | 0.07% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 850,986 | 1.12% | $60.60M | 0.18% | Jul 31, 2026 |
| State Street(R) SPDR(R) S&P(R) Dividend ETF | 732,839 | 0.96% | $54.52M | 0.25% | Jun 30, 2026 |
| iShares Russell 2000 Value ETF | 730,525 | 0.96% | $54.35M | 0.37% | Jun 30, 2026 |
| Nomura Small Cap Core Fund | 661,734 | 0.87% | $48.19M | 0.87% | May 29, 2026 |
| Vanguard Strategic Equity Fund | 648,816 | 0.85% | $48.27M | 0.40% | Jun 30, 2026 |
| Undiscovered Managers Behavioral Value Fund | 603,996 | 0.79% | $44.94M | 0.50% | Jun 30, 2026 |
| Franklin Small Cap Value Fund | 559,911 | 0.73% | $39.87M | 0.93% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Linden R. Evans | President and CEO | 176,995 | 0.23% | Feb 18, 2026 |
| Marne M. Jones | SVP - Utilities | 38,667 | 0.05% | Feb 13, 2026 |
| Kimberly F. Nooney | SVP & CFO | 38,696 | 0.05% | Feb 13, 2026 |
| Sarah Wiltse | SVP and CHRO | 7,532 | 0.01% | Feb 10, 2026 |
| Darren T. Nakata | Chief Legal Officer | 7,495 | 0.01% | Feb 10, 2026 |
| Donald Lee Redden JR | CITO | 6,910 | 0.01% | Feb 10, 2026 |
| Keller D. Erik | Sr VP Chief Info Officer | 10,565 | 0.01% | Feb 14, 2025 |
| Phillip A. Casey | SVP and CLO | 6,797 | 0.01% | Feb 10, 2025 |
| Robert P. Otto | Director | 10,886 | 0.01% | May 28, 2026 |
| Steven Richard Mills | Director | 29,622 | 0.04% | May 4, 2026 |
| Kathleen S. McAllister | Director | 16,529 | 0.02% | May 4, 2026 |
| Tony A. Jensen | Director | 18,118 | 0.02% | May 4, 2026 |
| Robert F. Beard | Director | 4,237 | 0.01% | May 4, 2026 |
| Barry M. Granger | Director | 11,716 | 0.02% | May 4, 2026 |
| Teresa Taylor | Director | 13,646 | 0.02% | May 4, 2026 |
| Scott M. Prochazka | Director | 11,716 | 0.02% | May 4, 2026 |
| Anne G. Waleski | Director | 4,237 | 0.01% | May 4, 2026 |
| Mark A. Schober | Director | 12,688 | 0.02% | Feb 14, 2025 |
| Rebecca B. Roberts | Director | 8,266 | 0.01% | Feb 14, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Robert P. Otto Director | May 27, 2026 | Sale | −4,109 | $74.22 | $304.97K | 10,886 |
| Barry M. Granger Director | May 1, 2026 | Award | +1,921 | – | – | 11,716 |
| Robert P. Otto Director | May 1, 2026 | Award | +1,921 | – | – | 14,995 |
| Tony A. Jensen Director | May 1, 2026 | Award | +1,921 | – | – | 18,118 |
| Teresa Taylor Director | May 1, 2026 | Award | +1,921 | – | – | 13,646 |
| Kathleen S. McAllister Director | May 1, 2026 | Award | +1,921 | – | – | 16,529 |
| Robert F. Beard Director | May 1, 2026 | Award | +1,921 | – | – | 4,237 |
| Anne G. Waleski Director | May 1, 2026 | Award | +1,921 | – | – | 4,237 |
| Steven Richard Mills Director | May 1, 2026 | Award | +1,921 | – | – | 29,622 |
| Scott M. Prochazka Director | May 1, 2026 | Award | +1,921 | – | – | 11,716 |
| Linden R. Evans President and CEO | Feb 17, 2026 | Gift | −2,580 | – | – | 172,504 |
| Linden R. Evans President and CEO | Feb 17, 2026 | Gift | −3,731 | – | – | 168,773 |
| Marne M. Jones SVP - Utilities | Feb 12, 2026 | Tax withholding | −334.34 | $73.21 | $24.48K | 38,667 |
| Marne M. Jones SVP - Utilities | Feb 12, 2026 | Award | +835 | $73.21 | $61.13K | 39,002 |
| Kimberly F. Nooney SVP & CFO | Feb 12, 2026 | Tax withholding | −805.82 | $73.21 | $58.99K | 38,691 |
| Kimberly F. Nooney SVP & CFO | Feb 12, 2026 | Award | +2,006 | $73.21 | $146.86K | 39,497 |
| Linden R. Evans President and CEO | Feb 12, 2026 | Tax withholding | −3,555.67 | $73.21 | $260.31K | 175,084 |
| Linden R. Evans President and CEO | Feb 12, 2026 | Award | +9,036 | $73.21 | $661.53K | 178,640 |
| Marne M. Jones SVP - Utilities | Feb 9, 2026 | Tax withholding | −104.37 | $71.48 | $7.46K | 38,442 |
| Marne M. Jones SVP - Utilities | Feb 9, 2026 | Tax withholding | −275.75 | $71.48 | $19.71K | 38,167 |
| Linden R. Evans President and CEO | Feb 9, 2026 | Tax withholding | −1,077.8 | $71.48 | $77.04K | 170,986 |
| Linden R. Evans President and CEO | Feb 9, 2026 | Tax withholding | −1,382.35 | $71.48 | $98.81K | 169,604 |
| Kimberly F. Nooney SVP & CFO | Feb 9, 2026 | Tax withholding | −377.15 | $71.48 | $26.96K | 37,491 |
| Kimberly F. Nooney SVP & CFO | Feb 9, 2026 | Tax withholding | −250.25 | $71.48 | $17.89K | 37,868 |
| Marne M. Jones SVP - Utilities | Feb 7, 2026 | Tax withholding | −1,417.77 | $72.30 | $102.50K | 38,547 |
| Linden R. Evans President and CEO | Feb 7, 2026 | Tax withholding | −1,624.74 | $72.30 | $117.47K | 172,064 |
| Kimberly F. Nooney SVP & CFO | Feb 7, 2026 | Tax withholding | −1,805.12 | $72.30 | $130.51K | 38,119 |
| Sarah Wiltse SVP and CHRO | Feb 7, 2026 | Tax withholding | −201.03 | $72.30 | $14.53K | 7,532 |
| Marne M. Jones SVP - Utilities | Feb 6, 2026 | Award | +4,106 | – | – | 39,964 |
| Linden R. Evans President and CEO | Feb 6, 2026 | Award | +17,793 | – | – | 173,689 |
| Kimberly F. Nooney SVP & CFO | Feb 6, 2026 | Award | +4,654 | – | – | 39,924 |
| Donald Lee Redden JR CITO | Feb 6, 2026 | Award | +1,642 | – | – | 6,910 |
| Darren T. Nakata Chief Legal Officer | Feb 6, 2026 | Award | +2,874 | – | – | 7,495 |
| Sarah Wiltse SVP and CHRO | Feb 6, 2026 | Award | +2,327 | – | – | 7,733 |
| Linden R. Evans President and CEO | Dec 1, 2025 | Other | +8.08 | $72.45 | $585 | 168,781 |
| Kimberly F. Nooney SVP & CFO | Nov 10, 2025 | Sale | −14,500 | $70.70 | $1.03M | 34,621 |
| Darren T. Nakata Chief Legal Officer | Nov 7, 2025 | Award | +4,621 | – | – | 4,621 |
| Donald Lee Redden JR CITO | Aug 1, 2025 | Award | +5,268 | – | – | 5,268 |
| Robert F. Beard Director | Jun 1, 2025 | Discretionary | +72.73 | – | – | 2,295 |
| Anne G. Waleski Director | Jun 1, 2025 | Discretionary | +72.73 | – | – | 2,295 |
| Scott M. Prochazka Director | May 1, 2025 | Award | +2,222 | – | – | 9,319 |
| Steven Richard Mills Director | May 1, 2025 | Award | +2,222 | – | – | 27,237 |
| Tony A. Jensen Director | May 1, 2025 | Award | +2,222 | – | – | 15,688 |
| Anne G. Waleski Director | May 1, 2025 | Award | +2,222 | – | – | 2,222 |
| Barry M. Granger Director | May 1, 2025 | Award | +2,222 | – | – | 9,319 |
| Robert P. Otto Director | May 1, 2025 | Award | +2,222 | – | – | 12,431 |
| Robert F. Beard Director | May 1, 2025 | Award | +2,222 | – | – | 2,222 |
| Kathleen S. McAllister Director | May 1, 2025 | Award | +2,222 | – | – | 14,091 |
| Teresa Taylor Director | May 1, 2025 | Award | +2,222 | – | – | 11,448 |
| Barry M. Granger Director | Mar 1, 2025 | Discretionary | +384.91 | – | – | 9,704 |
| Teresa Taylor Director | Mar 1, 2025 | Discretionary | +230.42 | – | – | 11,678 |
| Scott M. Prochazka Director | Mar 1, 2025 | Discretionary | +383.59 | – | – | 9,703 |
| Tony A. Jensen Director | Mar 1, 2025 | Discretionary | +410.23 | – | – | 16,099 |
| Kathleen S. McAllister Director | Mar 1, 2025 | Discretionary | +418.72 | – | – | 14,510 |
| Steven Richard Mills Director | Mar 1, 2025 | Discretionary | +375.73 | – | – | 27,613 |
| Robert P. Otto Director | Mar 1, 2025 | Discretionary | +519.93 | – | – | 12,951 |
| Kimberly F. Nooney SVP & CFO | Mar 1, 2025 | Other | +649.24 | – | – | 35,270 |
| Linden R. Evans President and CEO | Mar 1, 2025 | Other | +191.21 | – | – | 4,491 |
| Linden R. Evans President and CEO | Feb 18, 2025 | Gift | −4,901 | – | – | 160,106 |
| Linden R. Evans President and CEO | Feb 18, 2025 | Gift | −3,210 | – | – | 156,896 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Roberts Rebecca Director | May 30, 2024 | 3,094 | $170.02K | May 30, 2024 | Acquired from public market |
| Richard Kinzley Officer | May 8, 2023 | 10,033 | $656.66K | May 8, 2023 | PSU VEST |