AQR Capital Management LLC Has $53.83 Million Stock Position in Black Hills Corporation $BKH

Key Points

• AQR Capital Management LLC increased its stake in Black Hills Corporation by 1.7%, acquiring an additional 14,437 shares during the first quarter, bringing its total ownership to 888,412 shares valued at approximately $53.83 million.
• Other institutional investors also adjusted their positions, with Vanguard Group raising its stake by 0.4% and Victory Capital Management Inc. increasing its holdings by 18.2% in the same period.
• Black Hills Corporation reported a revenue increase of 8.9% year-over-year with quarterly earnings per share hitting $0.38, while announcing a quarterly dividend of $0.676 per share, reflecting a 4.5% dividend yield.

AQR Capital Management LLC grew its stake in shares of Black Hills Corporation (NYSE:BKH - Free Report) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 888,412 shares of the utilities provider's stock after acquiring an additional 14,437 shares during the period. AQR Capital Management LLC owned 1.23% of Black Hills worth $53,829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in Black Hills by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 215,402 shares of the utilities provider's stock valued at $13,064,000 after purchasing an additional 4,077 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Black Hills by 15.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,918 shares of the utilities provider's stock valued at $480,000 after buying an additional 1,087 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Black Hills by 215.5% in the first quarter. Farther Finance Advisors LLC now owns 1,647 shares of the utilities provider's stock valued at $100,000 after buying an additional 1,125 shares during the period. GAMMA Investing LLC grew its position in Black Hills by 59.2% during the first quarter. GAMMA Investing LLC now owns 605 shares of the utilities provider's stock worth $37,000 after buying an additional 225 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Black Hills during the fourth quarter worth approximately $96,000. Institutional investors and hedge funds own 86.71% of the company's stock.

Black Hills Price Performance

NYSE BKH traded down $0.05 during trading on Friday, hitting $59.37. 338,145 shares of the company's stock were exchanged, compared to its average volume of 638,562. The company has a market cap of $4.32 billion, a PE ratio of 14.95, a P/E/G ratio of 2.75 and a beta of 0.74. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 1.06. Black Hills Corporation has a fifty-two week low of $54.92 and a fifty-two week high of $65.59. The stock's 50 day moving average price is $58.78 and its two-hundred day moving average price is $58.83.

Black Hills (NYSE:BKH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38. The company had revenue of $439.00 million for the quarter, compared to analyst estimates of $412.69 million. Black Hills had a net margin of 12.68% and a return on equity of 7.81%. The firm's revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 EPS. Black Hills has set its FY 2025 guidance at 4.000-4.200 EPS. Research analysts expect that Black Hills Corporation will post 4.12 EPS for the current year.

Black Hills Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a dividend of $0.676 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.70 annualized dividend and a dividend yield of 4.6%. Black Hills's dividend payout ratio (DPR) is 68.01%.

Analysts Set New Price Targets

Separately, Bank of America raised Black Hills from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $57.00 to $64.00 in a report on Wednesday, August 20th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $66.00.

Black Hills Company Profile

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.