What is the 13F Pro Quality Score for BKH?

13F Pro ranks BLACK HILLS CORP /SD/ (BKH) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View BKH's current score at https://13fpro.ai/research/BKH (free sign-up required for the full ranking).

Which hedge funds own the most BKH stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of BKH include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/BKH as soon as new 13F filings post.

Where does 13F Pro source BKH data?

All BLACK HILLS CORP /SD/ fundamentals and ownership data come directly from SEC EDGAR. BLACK HILLS CORP /SD/ files with the SEC under CIK 1130464. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is BKH in?

BLACK HILLS CORP /SD/ (BKH) is classified in the Utilities sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/utilities.

How often is BKH research updated on 13F Pro?

BKH's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

BLACK HILLS CORP /SD/(BKH)Stock Analysis

AI analysis on 2,800+ stocks →Deep AI analysis on 2,800+ stocks →

Utilities →NYSE

Institutional-grade research for retail investors

SEC EDGAR: CIK 1130464 BKH stock profile & AI dashboard →

13F Pro Quality Score

53.1/100

Rank #1,304 of 2,879 stocksTOP 50%

View Utilities peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.

Revenue Growth

31.7/100

Profitability

76.3/100

Balance Sheet

57.5/100

Earnings Quality

40.4/100

Free Cash Flow

23.0/100

Institutional Flow

76.4/100

Revenue Scale

65.7/100

Dilution Risk

74.6/100

BKH Stock Analysis & AI Quality Score

AI stock analysis and institutional research for BLACK HILLS CORP /SD/ (BKH), a Utilities sector company. 13F Pro's AI-powered ranking engine scores BKH at 53.1/100 on a 32-signal composite quality model, placing it at rank #1,304 of 2,879 stocks — the top half of the AI-ranked universe. BKH scores in the top quartile across institutional flow (76.4), profitability (76.3). Areas of concern include free cash flow (23.0) and revenue growth (31.7), which score below median versus the broader universe. Based on the latest XBRL financial filings (Q1 2026), BLACK HILLS CORP /SD/ reports quarterly revenue of $780.7M, net income of $131.0M, an operating margin of 25.9%. Top institutional holders of BKH by reported 13-F value include BlackRock,, VANGUARD PORTFOLIO MANAGEMENT, STATE STREET, based on the most recent SEC filings. BKH trades on the NYSE exchange and files with the SEC under CIK 1130464. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BKH daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for BLACK HILLS CORP /SD/ directly from SEC EDGAR. BLACK HILLS CORP /SD/'s 13F Pro composite quality score has ranged between 8 and 64 since 2021, currently 53.1 — an improving long-term trajectory across 56 quarterly and live scoring snapshots.

Revenue

Q1 2026

$780.7M

Net Income

Q1 2026

$131.0M

Free Cash Flow

Q1 2026

$-91.2M

Operating Margin

Q1 2026

25.9%

ROIC

Q1 2026

2.5%

D/E Ratio

Q1 2026

1.18

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

-0.9% YoY

$2.31BFY 2025

FY21 $1.95BFY22 $2.55BFY23 $2.33BFY25 $2.31B

Net Income

+11.2% YoY

$291.6MFY 2025

FY21 $236.7MFY22 $258.4MFY23 $262.2MFY25 $291.6M

Operating Income

+13.7% YoY

$537.5MFY 2025

FY21 $409.4MFY22 $455.2MFY23 $472.7MFY25 $537.5M

EPS (Diluted)

+1.8% YoY

$3.98FY 2025

FY21 $3.74FY22 $3.97FY23 $3.91FY25 $3.98

Total Assets

+13.0% YoY

$10.87BFY 2025

FY21 $9.13BFY22 $9.62BFY23 $9.62BFY25 $10.87B

Total Debt

+6.8% YoY

$4.70BFY 2025

FY21 $4.55BFY22 $4.67BFY23 $4.40BFY25 $4.70B

Op. Cash Flow

-28.7% YoY

$673.4MFY 2025

FY21 $-64.6MFY22 $584.8MFY23 $944.4MFY25 $673.4M

Metric	FY 2025	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Revenue	$2.31B -0.9%	$2.33B -8.6%	$2.55B +30.9%	$1.95B +14.9%	$1.70B -2.2%	$1.73B
Net Income	$291.6M +11.2%	$262.2M +1.5%	$258.4M +9.2%	$236.7M +4.0%	$227.6M +14.2%	$199.3M
Operating Income	$537.5M +13.7%	$472.7M +3.8%	$455.2M +11.2%	$409.4M -4.4%	$428.3M +5.5%	$406.0M
EPS (Diluted)	$3.98 +1.8%	$3.91 -1.5%	$3.97 +6.1%	$3.74 +2.5%	$3.65 +11.3%	$3.28
Total Assets	$10.87B +13.0%	$9.62B +0.0%	$9.62B +5.3%	$9.13B +12.9%	$8.09B +7.0%	$7.56B
Total Debt	$4.70B +6.8%	$4.40B -5.7%	$4.67B +2.7%	$4.55B +20.6%	$3.77B +7.9%	$3.50B
Operating Cash Flow	$673.4M -28.7%	$944.4M +61.5%	$584.8M +1005.3%	$-64.6M -111.9%	$541.9M +7.2%	$505.5M

AI Insight: BKH Ratio Trends

Black Hills shows steady seasonal profitability with modest leverage reduction, but peak-quarter ROIC has slipped from 10.3% in Q1 2025 to 9.4% in Q1 2026.

• Seasonal pattern is consistent: Q4 and Q1 margins dominate, with Q1 2026 operating margin at 25.9% vs. Q2–Q3 range of 18–19%.

• D/E has declined from 1.44 in Q2 2024 to 1.18 in Q1 2026, signaling gradual deleveraging over five quarters.

• TTM ROIC of 6.2% and ROE of 7.3% reflect the drag of low off-peak quarters, masking stronger winter-quarter returns.

⚠ Peak-quarter ROIC slipped from 10.3% in Q1 2025 to 9.4% in Q1 2026 — a 90bp year-over-year compression worth monitoring.

⚠ Q4 2025 operating margin of 27.0% edged down from Q4 2024's 27.4%, suggesting modest winter-season profitability pressure.

Get alerted when BKH's score changes

Free account: watchlist tracking, the daily AI brief, and the AI screener.

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Available Research

13F Pro tracks comprehensive data for BLACK HILLS CORP /SD/ including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of BKH

BlackRock, Inc.
$841.9M12,129,658 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$349.8M5,039,870 sh
STATE STREET CORP
$251.3M3,620,556 sh
VANGUARD CAPITAL MANAGEMENT LLC
$233.9M3,369,588 sh
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.
$186.0M2,679,192 sh
Capital Research Global Investors
$158.0M2,275,922 sh
TWO SIGMA INVESTMENTS, LP
$153.8M2,216,003 sh
ADAGE CAPITAL PARTNERS GP, L.L.C.
$143.7M2,069,827 sh
GEODE CAPITAL MANAGEMENT, LLC
$138.5M1,994,815 sh
Point72 Asset Management, L.P.
$134.9M1,943,215 sh

Fund	Value	Shares
BlackRock, Inc.	$841.9M	12,129,658
VANGUARD PORTFOLIO MANAGEMENT LLC	$349.8M	5,039,870
STATE STREET CORP	$251.3M	3,620,556
VANGUARD CAPITAL MANAGEMENT LLC	$233.9M	3,369,588
NOMURA ASSET MANAGEMENT INTERNATIONAL INC.	$186.0M	2,679,192
Capital Research Global Investors	$158.0M	2,275,922
TWO SIGMA INVESTMENTS, LP	$153.8M	2,216,003
ADAGE CAPITAL PARTNERS GP, L.L.C.	$143.7M	2,069,827
GEODE CAPITAL MANAGEMENT, LLC	$138.5M	1,994,815
Point72 Asset Management, L.P.	$134.9M	1,943,215

More Utilities Companies

View all Utilities →

AEE

AMEREN CORP

AEP

AMERICAN ELECTRIC POWER CO INC

AES

AES CORP

AQN

ALGONQUIN POWER & UTILITIES CORP.

ARTNA

ARTESIAN RESOURCES CORP

AVA

AVISTA CORP

AWK

American Water Works Company, Inc.

AWR

AMERICAN STATES WATER CO

Put BKH on your watchlist

Track score changes the day BLACK HILLS CORP /SD/ files with the SEC, follow the hedge funds that own it, screen 2,800+ AI-scored stocks, and get the daily brief — free.

View Pricing

Free tier includes 13F data, economic indicators, and market overview. Pro starts at $6.67/mo (billed annually).

Passwordless sign-in · Payments by Stripe · Auth by Clerk

Popular Research

AAPL

Apple

MSFT

Microsoft

NVDA

NVIDIA

GOOG

Alphabet

AMZN

Amazon

Is BKH a good stock to buy?

13F Pro's AI-powered analysis of BLACK HILLS CORP /SD/ (BKH) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Utilities sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for BKH are available on the BKH stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own BKH?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling BKH. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of BLACK HILLS CORP /SD/'s investment landscape.