Welcome to our dedicated page for Black Hills news (Ticker: BKH), a resource for investors and traders seeking the latest updates and insights on Black Hills stock.
Black Hills Corporation (NYSE: BKH) is a growth-oriented, vertically integrated energy company headquartered in Rapid City, South Dakota. With a mission of improving life with energy and a vision to be the energy partner of choice, Black Hills Corp. serves approximately 1.34 million natural gas and electric utility customers in eight states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
The company operates through various segments: Electric Utilities, Gas Utilities, and Corporate and Other. A significant portion of its revenue is generated from its utility business group, mainly from electric utilities. Black Hills Corp. caters to a wide array of customers, including residential, commercial, industrial, and municipal consumers.
Black Hills Corp. has made significant strides in renewable energy. A noteworthy development is the acquisition of the production facility at the Dubuque Metropolitan Area Solid Waste Agency, which includes onsite infrastructure and long-term rights to renewable natural gas (RNG) production. This investment aligns with the company’s emissions reduction strategy and marks its entry into the RNG production as a nonregulated business.
In 2023, Black Hills Corp. reported strong financial results, with earnings per share reaching $3.91, driven by new rates and customer growth. The company demonstrated robust capital and expense management, offsetting inflationary impacts. Furthermore, the company has set a 2024 earnings guidance range of $3.80 to $4.00 per share and plans to increase its capital plan by $800 million to $4.3 billion from 2024 through 2028.
Among its strategic growth initiatives, Black Hills Corp. is advancing several key projects. In Wyoming, it has initiated the Ready Wyoming 260-mile electric transmission project. In South Dakota, the company is finalizing plans to add 100 megawatts of utility-owned renewable wind generation by mid-2026. Additionally, in Colorado, Black Hills Energy is recommending 400 megawatts of new renewable energy resources to meet its greenhouse gas emissions reduction goals by 2030, including 200 megawatts of utility-scale solar, 150 megawatts of wind, and 50 megawatts of battery storage.
Black Hills Energy Renewable Resources LLC (BHERR), a nonregulated subsidiary established in 2022, focuses on developing RNG production and interconnections. This subsidiary aims to align with Black Hills Corp.'s sustainability strategy and drive profitable growth in renewable energy projects.
For more detailed information, visit their website at www.blackhillscorp.com.
Black Hills Corp. (NYSE: BKH) has announced its upcoming investor engagement schedule for March 2025, featuring participation in four major industry conferences. The company will attend the Morgan Stanley Energy and Power Conference (March 3), Jefferies Power, Utilities and Clean Energy Conference (March 4), Siebert Williams Shank West Coast Utilities Conference (March 20), and Scotiabank Utilities and Renewables Conference (March 25).
Black Hills Corp., headquartered in Rapid City, South Dakota, serves 1.35 million natural gas and electric utility customers across eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. Supporting materials for these investor meetings will be made available on the company's website prior to each conference.
Black Hills Corp. (NYSE: BKH) reported its 2024 financial results with earnings per share of $3.91, representing 4.3% growth from 2023's midpoint guidance. The company announced a 10% increase in its five-year capital forecast to $4.7 billion for 2025-2029.
Key highlights include a 4% increase in quarterly dividend, marking 55 consecutive years of dividend increases, and the initiation of 2025 earnings guidance at $4.00 to $4.20 per share. The company's data center load is projected to exceed one gigawatt from existing customers, with approximately 500 megawatts expected to be served by 2029.
Operating income for 2024 was $503.1 million, up from $472.7 million in 2023. Net income available for common stock reached $273.1 million in 2024, compared to $262.2 million in 2023. The company completed several regulatory initiatives, including rate review settlements in Arkansas and Iowa, while maintaining solid investment-grade credit ratings.
Black Hills Corp. (NYSE: BKH) has filed a rate review application with the Kansas Commission for its natural gas utility operations. The company is seeking to recover costs for infrastructure investments and operations serving 120,000 Kansas customers. Since 2021, Black Hills Energy has invested $118 million in safety, reliability, and system integrity across 4,765 miles of natural gas pipeline infrastructure in Kansas.
The application requests $17.2 million per year in additional revenue and approximately $4.4 million of rider revenue integration into base rates, totaling a $21.6 million annual base rate revenue increase. The request is based on a capital structure of 50.44% equity and 49.56% debt, with a 10.50% return on equity. The company aims to implement new rates in the second half of 2025.
Black Hills Corp. (NYSE: BKH) has announced a quarterly dividend increase of $0.026 per share, bringing the new dividend to $0.676 per share. The dividend will be payable on March 1, 2025, to shareholders of record as of February 18, 2025.
This increase marks the company's 55th consecutive year of annual dividend increases, representing the second-longest track record in the electric and natural gas utility industry. Black Hills has maintained an unbroken streak of 83 consecutive years of annual dividend payments since February 1942.
The company currently serves 1.34 million natural gas and electric utility customers across eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
Black Hills Corp. (NYSE: BKH) has successfully energized the first 12-mile segment and supporting substations of its Ready Wyoming transmission expansion project near Cheyenne. The complete 260-mile project, scheduled to be fully operational by end of 2025, will connect the company's Wyoming and South Dakota electric systems.
The project, which received Wyoming Public Service Commission approval in 2022, includes six new, replacement, or expanded substations and will interface with electricity markets to the east and west. It aims to reduce dependence on third-party transmission systems, stabilize long-term costs for customers, and support growing energy needs, particularly for data centers.
Ready Wyoming, the largest electric transmission project in Black Hills' history, spans five counties and approximately 300 landowners. The investment will be recovered through the company's transmission rider and is expected to contribute more than $100 million of economic benefit to the Wyoming economy.
Black Hills Corp. (NYSE: BKH) has announced it will release its 2024 fourth-quarter and full-year earnings after market close on Wednesday, February 5, 2025. The company will host a live conference call and webcast at 11 a.m. EST on Thursday, February 6, 2025, to discuss the financial results.
Investors can access the webcast through the company's website under the Investor Relations section or participate in the live broadcast via phone by registering at the provided link. A replay of the broadcast will be available for up to one year. Black Hills Corp. serves 1.34 million natural gas and electric utility customers across eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
Black Hills Corp (NYSE: BKH) announced that its Iowa natural gas utility received approval from the Iowa Utilities Commission for new rates. The settlement agreement aims to recover approximately $100 million of pipeline system investments made since 2021. The approved settlement will generate about $15 million in new annual revenues based on a weighted average cost of capital of 7.21%. Final approved rates will replace interim rates in January 2025, which have been in place since May 11, 2024.
Black Hills Corp (NYSE: BKH) reaffirmed its 2024 earnings guidance of $3.80 to $4.00 per share while reporting Q3 2024 results. The company posted earnings of $0.35 per share for Q3 2024, down from $0.67 in Q3 2023, and net income of $24.4 million, compared to $45.4 million in the prior year period. The decrease was partially offset by new rates, rider recovery and customer growth. The company received approval for new customer rates at Arkansas natural gas utility and filed a settlement agreement for Iowa gas utility rates. Black Hills completed its planned equity issuance for 2024, raising $182 million through 3.3 million new shares.
Black Hills Corp. (NYSE: BKH) has declared a quarterly dividend of $0.65 per share for common shareholders of record as of November 18, 2024, payable on December 1, 2024. The company will release its 2024 third quarter earnings after market close on November 6, 2024, followed by a live conference call and webcast on November 7, 2024, at 11 a.m. EST. Black Hills serves 1.34 million natural gas and electric utility customers across eight states: Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming.
Black Hills Corp. (NYSE: BKH) has announced its schedule for the 2024 third quarter earnings release and conference call. The company will release its Q3 2024 earnings after market close on Wednesday, November 6, 2024, followed by a live conference call and webcast on Thursday, November 7, 2024, at 11 a.m. EST.
Investors and interested parties can access the webcast through the company's website or participate in the call via phone. A replay of the broadcast will be available for up to one year. Black Hills Corp. is a customer-focused utility company serving 1.34 million natural gas and electric utility customers across eight states in the U.S.
FAQ
What is the current stock price of Black Hills (BKH)?
What is the market cap of Black Hills (BKH)?
What services does Black Hills Corporation provide?
How many customers does Black Hills Corporation serve?
What are the core business segments of Black Hills Corporation?
What recent achievements has Black Hills Corporation accomplished?
What are Black Hills Corporation’s goals for renewable energy?
What is Black Hills Energy Renewable Resources LLC (BHERR)?
How did Black Hills Corporation perform financially in 2023?
What is the company's earnings guidance for 2024?
What strategic projects is Black Hills Corporation currently pursuing?
Where can investors find more information about Black Hills Corporation?
