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Why Black Hills (BKH) Stock Is Up Today

Investivoq PriceTracker

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 Insider Trades

    $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 Investivoq's insider trading dashboard. You can access data on insider stock transactions through the Investivoq 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 Investivoq's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Investivoq 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 Investivoq's government contracts dashboard. You can access data on government contracts through the Investivoq 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 Investivoq's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.