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Black Hills Corporation (BKH) Insider, 13F Hedge Fund & Politician Buy/Sell Thermometer

$82.51 +0.61% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $82.44

Black Hills Corporation (BKH) carries a Roarable Rating of D+ (Sell) with 53/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

ROARABLE D+ • SELL / AVOID Cap $6.25B
📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card
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🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is BKH stock a Buy, Hold, or Sell right now according to Roarable's RQD model?
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As of 2026-11-03, Black Hills Corporation (NYSE: BKH) is rated D+ (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 53/100 at a spot price of $82.51 (+0.61% 1D, market cap $6.25B). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 17/20, SEC Balance-Sheet Forensics 12/20, FRED Macro Regime Fit 10/20, and Executive Insider Alignment 9/20. Across 116 tracked Utilities issuers, BKH ranks #52 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief
🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does BKH compare to TXNM and ENIC in the Utilities sector?
▼

Within the Utilities sector (Electric Utilities: Central), BKH carries a Roarable D+ (53/100 RQD), trailing P/E of 21.3x, gross margin of —, and ROIC of 5.1%. By comparison, TXNM (TXNM Energy Inc.) holds a D+ grade (53/100 RQD, P/E 38.0x, ROIC 4.1%, cap $6.43B) and ENIC (Enel Chile S.A. (Each representing 50 shares of )) posts a D grade (45/100 RQD, P/E N/A, ROIC —, cap $5.71B). Among the 5-stock peer group, POR leads on earnings multiple (12.0x) while POR leads on capital efficiency (6.1% ROIC).

✓ Pre-computed one-to-many AI Quant brief
🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for BKH?
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Per BKH's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001130464), Black Hills Corporation generated $2.29B in revenue (+9.0% YoY), $291.6M in net income, and -$146.4M in free cash flow against $10.87B in total assets and $4.70B in total debt. Key quantitative strengths: Big institutional funds and options desks are actively positioning on the bullish side. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief
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INTERACTIVE SCENARIO DECK:
🛡️ Portfolio Crash X-Ray
EXT / AFTER-HRS: $82.44 (-0.08%)🧬 Disciplined Float (+0.80% YoY Shares)⚙️ Cash Engine: 5/20 (E) • 0% FCF Margin
Verify 90D Bucket Audit →
📊 Historical Track Record: Scores of 53/100 (D+) historically posted market-perform odds over rolling 90-day windows (-0.9% avg 90D alpha vs SPY • 50.6% hit rate — wait for RQD ≥ 70 breakout).
Audit Bucket Track Record →
RQD QUANT TACHOMETERSELL / AVOID • D+
025507510053
Quant Analyst Panel Split (Battleground)
Cash
SEC
Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR RQD RADARRw D+ · Rk D+
Cash (5)Whales (17)SEC (12)Macro (10)CEO (9)
Each axis scored 0–20
12M PRICE TARGET CONE-2.3% Base Target
$95 Bull$81 Base$63 Bear
📬 FREE BKH RATING-CHANGE & BRIEFING ALERTSManage / Unsubscribe
WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for BKH)Realized 20D OHLCV Swing Band: ±4.1%
Deterministic 5-Pillar Attribution (53/100 Composite)
🔍 WHY BKH SCORES 53/100 (D+) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag
▲ #1 Bullish Driver: Whale & Options Positioning+17/20 pts (32% of score)

20D Institutional Volume Accumulation (±4.1% realized swing band)

▲ #2 Bullish Driver: SEC 10-K Forensic Risk+12/20 pts (23% of score)

Altman Z-Score 1.29 (DISTRESS RISK (<1.8)) • Piotroski F-Score 7/9

▼ #1 Drag / Risk Factor: Cash Engine Quality5/20 pts (-15 pt drag)

Capital intensity & 23.5% operating margin leave 15 pts on the table

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current
Q1 (-3Q)
45
Grade D$76.43+2.8% Next Q
Q2 (-2Q)
48
Grade D$78.55+2.9% Next Q
Q3 (-1Q)
50
Grade C-$80.79+2.1% Next Q
Current
53
Grade D+$82.51-0.9% Hist 90D α
Trajectory: D (45) → D+ (53)Full Audit →
⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a BKH Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While BKH currently carries a cautious 53/100 (D+) rating due to Cash Engine Quality (5/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Big institutional funds and options desks are actively positioning on the bullish side.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($74.54) and Max Pain ($86.64) forces dealer call-delta covering toward $95.17.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.80% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $BKH• $2.4M Crowd Pool • Kalshi / Polymarket Composite
Contract: “BKH Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”
YES 53%NO 47%Trade / Inspect Odds →
SEC FORM 4 × 13F HEDGE FUNDS × CONGRESSIONAL STOCK ACT

BKH Smart-Money Thermometer: BALANCED INSTITUTIONAL POSITIONING

Explore All 13F & Congress Whales →
▲ Disclosed Buys: 0 ($0)▼ Disclosed Sales: 0 ($0)

Wide-Open SEC Form 4, 13F & Congressional Disclosure Ledger (BKH)

No recent open-market Form 4 cluster sales or emergency dumps flagged on BKH. Visit the Global 13F & Congressional Whale Ledger for cross-market smart-money filings.

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring BKH)

  • ✓Walkthrough of BKH's RQD Radar, SEC cash-conversion gap & downside invalidation levels
  • ✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
  • ✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks
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BKH // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +10.13%▲ RESISTANCE BREAKOUT
2026-11-03O $81.46H $82.51L $81.46C $82.51VOL 1.33M
RES: $80.24SUP: $65.44SMA50: $74.54SMA200: $73.51
$83.56$79.20$74.84$70.48$66.12RES $80.24SUP $65.44$82.512026-05-042026-06-182026-08-052026-09-212026-11-03
PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

BKH Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 BKH Butterfly Map → + Track BKH →
Share Count & Dilution Monitor

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle
15.0%/yr Implied 5Y Growth

vs. +9.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger

No active Ellis Vennor swing setup published on BKH today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for BKH. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video
🎬 No recent verified company-specific video clip queued for BKH today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →
DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (BKH)

Utilities Rank #52 of 116 ⚔️ TXNM vs BKH Full Matrix →

1. Head-to-Head Utilities Peer Comparison (BKH vs. TXNM, ENIC, ORA, POR)

Industry: Electric Utilities: Central (56 Tracked Issuers)

Across 116 tracked Utilities securities in the Roarable RQD universe, Black Hills Corporation (BKH) ranks #52 by composite RQD confidence (53/100, grade D+) and #50 by equity capitalization ($6.25B). Within this direct 5-issuer industry benchmark cohort, POR leads on earnings valuation at 12.0x trailing P/E, while POR leads on capital efficiency and profitability with 6.1% ROIC and — gross margin. BKH currently leads its immediate peer cohort in composite quantitative strength at 53/100 (D+).

Ticker / Company Roarable Grade RQD Score Trailing P/E Gross Margin ROIC 1D Change Market Cap Head-to-Head
BKH ACTIVE
Black Hills Corporation
D+ 53/100 21.3x — 5.1% +0.61% $6.25B Benchmark Subject
TXNM
TXNM Energy Inc.
D+ 53/100 38.0x — 4.1% +0.55% $6.43B /txnm-vs-bkh →
ENIC
Enel Chile S.A. (Each representing 50 shares of )
D 45/100 — — — +2.66% $5.71B /enic-vs-bkh →
ORA
Ormat Technologies Inc.
E 31/100 44.7x 27.6% 3.4% +2.43% $5.52B /ora-vs-bkh →
POR
Portland General Electric Co
D- 41/100 12.0x — 6.1% +2.48% $5.29B /por-vs-bkh →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001130464 ↗

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Black Hills Corporation (BKH) reported GAAP revenue of $2.29B (+9.0% vs. FY2024 revenue of $2.10B , and -0.7% cumulative change since FY2023) , GAAP net income of $291.6M, operating cash flow of $673.4M, and free cash flow of -$146.4M (-488.0% YoY). On the balance sheet, BKH closed FY2025 with $10.87B in total assets against $4.70B in total debt (Altman Z-Score: 1.29, Piotroski F-Score: 7/9).

Fiscal Period Filing Date Revenue Net Income Operating Cash Flow Free Cash Flow Total Assets Total Debt
FY2025 (FY) 2025-12-31 $2.29B $291.6M $673.4M -$146.4M $10.87B $4.70B
FY2024 (FY) 2024-12-31 $2.10B $273.1M $719.3M -$24.9M $10.02B $4.25B
FY2023 (FY) 2023-12-31 $2.30B $262.2M $944.4M $840.8M $3.42B $799.4M

3. BKH Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is BKH stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

As of 2026-11-03, Black Hills Corporation (NYSE: BKH) is rated D+ (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 53/100 at a spot price of $82.51 (+0.61% 1D, market cap $6.25B). Pillar breakdown: Fundamental Cash Engine 5/20, Institutional 13F & Options Flow 17/20, SEC Balance-Sheet Forensics 12/20, FRED Macro Regime Fit 10/20, and Executive Insider Alignment 9/20. Across 116 tracked Utilities issuers, BKH ranks #52 in composite RQD confidence.

How does BKH compare to TXNM and ENIC in the Utilities sector?

Within the Utilities sector (Electric Utilities: Central), BKH carries a Roarable D+ (53/100 RQD), trailing P/E of 21.3x, gross margin of —, and ROIC of 5.1%. By comparison, TXNM (TXNM Energy Inc.) holds a D+ grade (53/100 RQD, P/E 38.0x, ROIC 4.1%, cap $6.43B) and ENIC (Enel Chile S.A. (Each representing 50 shares of )) posts a D grade (45/100 RQD, P/E N/A, ROIC —, cap $5.71B). Among the 5-stock peer group, POR leads on earnings multiple (12.0x) while POR leads on capital efficiency (6.1% ROIC).

What are the biggest fundamental strengths and SEC risk factors for BKH?

Per BKH's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001130464), Black Hills Corporation generated $2.29B in revenue (+9.0% YoY), $291.6M in net income, and -$146.4M in free cash flow against $10.87B in total assets and $4.70B in total debt. Key quantitative strengths: Big institutional funds and options desks are actively positioning on the bullish side. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately. Institutional options positioning shows a 50% call / 50% put premium split.

Where is BKH trading relative to its 50-day, 200-day, and 52-week technical levels?

BKH last traded at $82.51 (+0.61% on volume of 1,222,687 shares), positioning the stock +10.69% above its 50-day simple moving average ($74.54) and +12.24% above its 200-day simple moving average ($73.51). Across its 52-week range of $62.27 to $82.15, BKH sits at the 100.0% percentile with a 14-day RSI of 72.2 (OVERBOUGHT (>70)) and an implied next-earnings move of ±4.1% ($79.13 to $85.89).

Direct Sub-Reports: BKH RQD Cockpit BKH 12M Forecast BKH Earnings & Move BKH Dividends & DRIP BKH Insiders & 13F BKH Whale Options BKH Profit Sankey BKH News & Why
ROARABLE RATING BRIEF • RQD 53/100 (D+) ✓ SEC XBRL & RQD VERIFIED

BKH — Black Hills Corporation: What the Facts Mean to a Prospective Investor

Methodology: RQD v6.2 Deterministic 5-Pillar & SEC XBRL Audit
Updated: 2025-12-31

1. Roarable Rating Brief: What This Means to a Prospective Investor

Black Hills Corporation (BKH) earns a live Roarable RQD composite score of 53/100, corresponding to a D+ letter grade (Roarable Sell) at a spot price of $82.51 (+0.61% 1D, market capitalization $6.25B).

  • Fundamental Cash Engine (5/20): Anchored by return on invested capital (ROIC) of 5.1%, gross margin of —, operating margin of 23.5%, and free cash flow yield of -2.36%.
  • Whale 13F & Options Flow (17/20) + Insider Conviction (9/20): Tracks institutional 13F accumulation, CBOE options call/put positioning, and SEC Form 4 / Congressional PTR filings.
  • Macro Regime Fit (10/20) + Forensic Balance Sheet (12/20): Incorporates a 0.49x equity beta, Altman Z-Score of 1.29, Piotroski F-Score of 7/9, and Debt/Equity of 1.23x.

2. Business Model, Unit Margins & SEC Financial Trajectory

Black Hills Corporation (BKH) is a NYSE-listed issuer classified in the Utilities sector and the Electric Utilities: Central industry. Its market capitalization is $6.2B.

In its latest audited SEC EDGAR 10-K filing for FY2025 (filed 2025-12-31), Black Hills Corporation (BKH) reported $2.29B in annual revenue (up from $2.10B in FY2024, +9.0% YoY) and $291.6M in GAAP net income. Over the multi-year SEC filing window from FY2023 ($2.30B revenue, $262.2M net income) through FY2025, BKH scaled operating cash flow to $673.4M and free cash flow to -$146.4M, backed by $10.87B in total assets against $4.70B in total debt.

3. Institutional Bull vs. Bear Thesis & Valuation Tradeoff

  • 🐂 Primary Bull Case (D+ • RQD 53/100): Big institutional funds and options desks are actively positioning on the bullish side. Free cash flow yield of -2.36% and institutional whale pillar of 17/20. With Fundamental Cash Engine at 5/20 and Institutional Whale Flow at 17/20, sustained execution supports upside toward the upper end of the $62.27 – $82.15 52-week range.
  • 🐻 Primary Bear Case & Valuation Risk: Company executives have done more routine share selling than personal cash buying lately. Investors must weigh 21.3x trailing P/E and 8.7x EV/EBITDA against 23.5% operating margins and a 0.49x macro beta.

4. 2nd-Order Butterfly Ripples & Key Questions to Watch

No upstream or downstream dependencies, sector correlations, or bottleneck links are recorded (supply_chain: NONE; butterfly_links: empty). The source data therefore does not identify 2nd-order ripples.

  • Key Question #1: Can BKH sustain or expand its 23.5% operating margin and 5.1% ROIC against Electric Utilities: Central peers over the next 4 quarters?
  • Key Question #2: Following FY2025 revenue of $2.29B and free cash flow of -$146.4M, how will capital allocation balance growth reinvestment against $4.70B in total debt?
  • Key Question #3: How sensitive is BKH's 19.8x forward P/E multiple to Utilities capital spending cycles and macro interest-rate shifts (Beta 0.49x)?

BKH Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Black Hills Corporation (BKH) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to BKH Debate Forum (3) ↓
🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

BKH Bull vs. Bear Conversation Board — What's Your Call at $82.51?

🐂 67% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON BKH 🐻 33% BEARISH CONVICTION
1. Pick Your Side on BKH:
💡 Tip: Back up your call with a price target or RQD metric to get upvoted to the top.
BR BreakoutHunter RQD DEBATE OPENER • Swing & Catalyst Trader 🐂 BULLISH 🎯 Target: $106.61 (+30.0%)
📌 Pinned Debate

Institutional accumulation and options positioning score 17 of 20, the strongest pillar in the RQD rating, alongside a low 0.49 beta.

Here is why I am bullish on BKH here at $82.01: Institutional accumulation and options positioning score 17 of 20, the strongest pillar in the RQD rating, alongside a low 0.49 beta.. Compare BKH's 23.5% operating margin and 5.1% ROIC against the rest of Electric Utilities: Central. As long as cash conversion holds up, dips toward $77.91 are getting bought.

EarningsSniper 🐂 BULL

@MeanReversion_88 Shorting a 17/20 institutional whale-flow stock at $82.01 is dangerous when funds are rotating into Utilities.

ME MeanReversion_88 RQD DEBATE OPENER • Quantitative Statistical Arb 🐻 BEARISH 🎯 Target: $62.33 (-24.0%)
Spot @ $82.01

Free cash flow is negative (-2.36% FCF yield, -$146.4M in FY 2025) while debt grew to $4.70B, with ROIC at 5.1%.

Free cash flow is negative (-2.36% FCF yield, -$146.4M in FY 2025) while debt grew to $4.70B, with ROIC at 5.1%.. Look at the math on BKH: paying 21.3x trailing P/E for 5.1% ROIC and 23.5% operating margins leaves zero margin of safety if Electric Utilities: Central demand softens. I'd wait for a retest of $72.17 before getting long.

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