Why Black Hills (BKH) Stock Is Up Today

Black Hills Corp. (BKH) is up 10.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to Black Hills announcing definitive agreements to serve Google’s planned data center in Cheyenne, Wyoming, a project that extends through 2048 and meaningfully expands the company’s long-term growth outlook. Investors also seem to be responding to the scale of the opportunity, including planned generation investment tied to this large new load.

Details:

Black Hills disclosed on October 6, 2026 that it signed definitive agreements, effective September 30, 2026, to serve a planned Google data center in Cheyenne, Wyoming.

The company said the contract terms run through 2048, giving investors a long-duration visibility story rather than a short-term sales bump.

Black Hills expects to invest about $1.8 billion from 2027 through 2029 in new generation capacity connected to serving the project, highlighting a sizable regulated-style growth path.

The announcement follows earlier company updates around a 1.8-gigawatt Cheyenne data center opportunity, so the new agreement likely reduced uncertainty by turning a developing project into a confirmed customer arrangement.

Sources:

Black Hills Corp. Investor Relations, SEC, Reuters

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$BKH Insider Trading Activity

$BKH insiders have traded $BKH stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $BKH stock by insiders over the last 6 months:

ROBERT P OTTO sold 4,109 shares for an estimated $304,969

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$BKH Hedge Fund Activity

We have seen 244 institutional investors add shares of $BKH stock to their portfolio, and 175 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,213,841 shares (+inf%) to their portfolio in Q2 2026, for an estimated $90,309,770
ADAGE CAPITAL PARTNERS GP, L.L.C. removed 884,803 shares (-42.7%) from their portfolio in Q2 2026, for an estimated $65,829,343
AQR CAPITAL MANAGEMENT LLC added 636,408 shares (+39.9%) to their portfolio in Q2 2026, for an estimated $47,348,755
TWO SIGMA INVESTMENTS, LP removed 552,825 shares (-24.9%) from their portfolio in Q2 2026, for an estimated $41,130,180
ZIMMER PARTNERS, LP removed 547,500 shares (-73.9%) from their portfolio in Q2 2026, for an estimated $40,734,000
MEREWETHER INVESTMENT MANAGEMENT, LP added 455,327 shares (+inf%) to their portfolio in Q2 2026, for an estimated $33,876,328
CAPITAL RESEARCH GLOBAL INVESTORS removed 449,961 shares (-19.8%) from their portfolio in Q2 2026, for an estimated $33,477,098

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$BKH Government Contracts

We have seen $55,506,504 of award payments to $BKH over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

VISN 23 BLACK HILLS UESC: $52,509,437
NATURAL GAS CONTRACT BASE + 9 OY FOR HINU: $425,000
FY26 P4 BLACK HILLS ELECTRIC OCT 25: $212,020
FY26 P4 BLACK HILLS ELECTRIC NOV 25: $204,752

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard. You can access data on government contracts through the Quiver Quantitative API government contracts endpoint.

$BKH Price Targets

Multiple analysts have issued price targets for $BKH recently. We have seen 2 analysts offer price targets for $BKH in the last 6 months, with a median target of $84.5.

Here are some recent targets:

Ross Fowler from B of A Securities set a target price of $78.0 on 06/11/2026
Edward DeArias from BMO Capital set a target price of $91.0 on 04/15/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.