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.
174 Power Global has signed a 15-year Power Purchase Agreement (PPA) with Black Hills Energy to develop the Turkey Creek Solar project in Pueblo County, Colorado. The 200 MW facility will provide electricity for around 46,000 homes, contributing to Black Hills' Renewable Advantage plan, which is projected to generate nearly $178 million in tax benefits. The project, costing over $200 million, will create approximately 250 construction jobs, with potential for 450 workers during peak phases. Construction is slated to start in 2022 and the project is expected to be operational by 2023.
Black Hills Corp. (NYSE: BKH) will release its 2021 Q1 earnings on May 4, 2021, after market close. Subsequently, a live conference call is scheduled for May 5, 2021, at 11 a.m. EDT to discuss these financial results. Investors can access the webcast via the company's website. Black Hills Corp. serves 1.3 million customers in eight states, focusing on growth and customer satisfaction.
On March 1, 2021, Black Hills Corp. (NYSE: BKH) reported significant impacts from extreme cold weather in February on its utility operations. The company incurred approximately $600 million in additional natural gas costs to meet demand. Initial estimates detailed $565 million in incremental costs across gas utilities with Arkansas leading at $165 million. Electric utilities faced $60 million, with Colorado Electric at $30 million. These figures are preliminary and subject to final accounting adjustments.
Black Hills Corp. (NYSE: BKH) announced that senior management will participate in several virtual investor conferences in March, addressing the impacts of extreme cold weather on its operations. Key events include the Credit Suisse Energy Summit on March 1 and the Morgan Stanley Energy Conference on March 2. Management will discuss increased energy demand and unprecedented market prices stemming from February's cold snap, particularly affecting its Choice Gas program in Nebraska and Wyoming. Additionally, the company reaffirms its 2021 and 2022 earnings guidance and recent financing activities to enhance liquidity.
Black Hills Corp. (NYSE: BKH) reported a 2020 GAAP EPS of $3.65, an increase from $3.28 in 2019. The company has raised its 2021 EPS guidance to $3.80-$4.00 and initiated 2022 guidance at $3.95-$4.15, projecting a long-term EPS growth rate of 5%-7%. A total of over $3 billion is slated for capital investments over five years, with $755 million spent in 2020 on infrastructure upgrades, including a new wind project. Black Hills celebrates 50 consecutive years of dividend increases, with a quarterly dividend of $0.565 declared for March 2021.
Black Hills Corp. (NYSE: BKH) announced a quarterly dividend of $0.565 per share, set for payment on March 1, 2021, to shareholders of record by February 12, 2021. The company will also release its fourth quarter and full year earnings on February 9, 2021, post-market close. A live webcast discussing these financial results will take place on February 10, 2021, at 11 a.m. EST. Serving 1.28 million customers across eight states, Black Hills Corp. continues to focus on growth and customer service.
Black Hills Corp. (NYSE: BKH) has received approval from the Nebraska Public Service Commission for a settlement agreement that allows for a statewide rate increase of approximately $11.1 million. This decision consolidates the company’s base rates and tariffs, benefiting approximately 300,000 customers in Nebraska. The rate increase supports ongoing investments exceeding $450 million in the company's natural gas infrastructure, while aiming to enhance operational efficiency and customer service. The new revenues will commence on March 1, 2021.
Black Hills Corp. (NYSE: BKH) will announce its Q4 and full year 2020 earnings on Feb. 9, 2021, after market close. A live conference call and webcast is scheduled for Feb. 10, 2021, at 11 a.m. EST to discuss the financial results. The company serves 1.28 million utility customers across eight states, emphasizing a commitment to customer satisfaction and growth.
Black Hills announced it will not participate in CenterPoint Energy's sale of gas distribution assets in Arkansas and Oklahoma, deeming them non-strategic.
The company emphasizes growth through its $2.9 billion capital investment program from 2020 to 2024, focusing on organic customer-oriented projects. President and CEO Linn Evans stated acquisitions will only be considered if they are highly strategic.
Black Hills Corp. (NYSE: BKH) has completed its $79 million Corriedale Wind Energy Project in Cheyenne, Wyoming. This 52.5-megawatt facility is producing renewable energy for customers enrolled in the Renewable Ready Program. The project features 21 wind turbines and utilizes advanced digital wind power tools to enhance performance by up to 7%. Black Hills now operates approximately 281 megawatts of renewable wind generation, constituting 25% of its total generation capacity, benefiting local communities through job creation and taxes.
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