AQR Capital Management LLC Has $62.43 Million Holdings in Black Hills Co. (NYSE:BKH)

AQR Capital Management LLC boosted its holdings in shares of Black Hills Co. (NYSE:BKH) by 31.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,147,939 shares of the utilities provider’s stock after buying an additional 275,994 shares during the period. AQR Capital Management LLC’s holdings in Black Hills were worth $62,425,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BKH. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Black Hills by 972.3% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 890 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 807 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Black Hills during the second quarter worth approximately $182,000. Evergreen Capital Management LLC acquired a new position in Black Hills during the second quarter valued at approximately $202,000. EverSource Wealth Advisors LLC raised its position in shares of Black Hills by 372.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,993 shares of the utilities provider’s stock valued at $177,000 after purchasing an additional 2,359 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Black Hills by 7.8% in the second quarter. Thrivent Financial for Lutherans now owns 176,639 shares of the utilities provider’s stock worth $9,606,000 after buying an additional 12,805 shares during the last quarter. 86.71% of the stock is currently owned by institutional investors.

Black Hills Stock Up 0.6 %

Shares of BKH opened at $61.04 on Friday. Black Hills Co. has a 52 week low of $46.43 and a 52 week high of $61.96. The firm has a market capitalization of $4.26 billion, a P/E ratio of 15.03, a P/E/G ratio of 4.36 and a beta of 0.68. The company has a 50-day simple moving average of $58.94 and a 200-day simple moving average of $56.00. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06.

Black Hills (NYSE:BKH) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $402.60 million during the quarter, compared to the consensus estimate of $498.00 million. Black Hills had a return on equity of 8.21% and a net margin of 12.96%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter last year, the company earned $0.35 EPS. On average, equities research analysts expect that Black Hills Co. will post 3.9 earnings per share for the current year.

Black Hills Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Monday, August 19th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date of this dividend was Monday, August 19th. Black Hills’s dividend payout ratio is 64.04%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of Black Hills from $54.00 to $63.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Mizuho lifted their price objective on Black Hills from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company raised their target price on Black Hills from $61.00 to $64.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, Black Hills currently has a consensus rating of “Hold” and a consensus price target of $58.00.

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.