Welcome to our dedicated page for Black Hills Corporation news (Ticker: BKH), a resource for investors and traders seeking the latest updates and insights on Black Hills Corporation 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 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.
Black Hills Corp. (NYSE: BKH) reported a strong third quarter of 2020, achieving net income of $36.3 million, or $0.58 per share, marking a 32% increase year-over-year. The company raised its 2020 EPS guidance range to $3.60-$3.70 and introduced a 2021 guidance of $3.75-$3.95. A $239 million increase in its capital investment forecast to $2.9 billion was also announced. Additionally, the quarterly dividend was raised by 5.6% to $0.565 per share, continuing a streak of annual dividend increases. This robust performance reflects customer growth and favorable weather conditions.
Black Hills Corp (NYSE: BKH) announced that on November 5, it will release new greenhouse gas (GHG) emission reduction goals for its utility operations, along with an updated Corporate Sustainability Report. This follows the company's commitment to advancing its environmental, social, and governance (ESG) disclosures. Additionally, the leadership team, including President and CEO Linn Evans, will present at the Virtual 2020 Edison Electric Institute Financial Conference on November 9 and 10, with a presentation scheduled for November 10 at 3 p.m. EST.
Black Hills Corp. (BKH) has announced a quarterly dividend of 56.5 cents per share, marking a 5.6% increase over the prior quarter.
This declaration celebrates the company's 50th consecutive year of annual dividend increases, reinforcing its commitment to returning value to shareholders.
The dividend will be paid on December 1, 2020, to common shareholders of record as of November 17, 2020. With this, Black Hills has maintained a consistent dividend payout for 78 years.
Black Hills Corp. (NYSE: BKH) announced a significant development with the approval of a 60-megawatt power purchase agreement from the Federal Energy Regulatory Commission. The agreement allows Cheyenne Light to secure base load capacity from the Wygen I power plant, ensuring energy provision until December 31, 2032. This contract addresses a generation shortfall and supports grid stability as Cheyenne Light integrates more renewable resources. The Wygen I plant offers reliable, low-cost energy, benefitting both the utility and local employment.
On Nov. 2, 2020, after market close, Black Hills Corp. (NYSE: BKH) will announce its Q3 2020 earnings. A conference call and webcast is scheduled for Nov. 3, 2020, at 11 a.m. EST to discuss financial results. Black Hills Corp., based in Rapid City, South Dakota, provides natural gas and electric service to approximately 1.28 million customers across eight states. Interested parties can access the live webcast via their investor relations portal. A replay will be available afterward.
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