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) announces a quarterly dividend of $0.625 per share, declared on April 24, 2023, for shareholders of record by May 18, 2023, with payment set for June 1, 2023. The company's first-quarter 2023 earnings will be released after market hours on May 3, with a conference call scheduled for May 4 at 11 a.m. EDT. Black Hills serves 1.33 million utility customers across eight states, emphasizing its commitment to growth and customer satisfaction. Investors can access the earnings call via the company's website or by phone, with registration required for participation. This initiative reflects the company's ongoing strategy to enhance shareholder value and maintain transparent communication.
Black Hills Corp. (NYSE: BKH) will report its 2023 first quarter earnings on May 3, 2023, after market close. A live conference call and webcast will take place on May 4, 2023, at 11 a.m. EDT to discuss the financial results. Interested participants can access the webcast via the company’s Investor Relations page. For those wishing to engage during the call, registration is required, and dial-in details will be provided post-registration. Black Hills Corp. is a utility company serving 1.3 million customers across eight states, focusing on providing reliable energy services. For additional information regarding the company and the upcoming earnings release, visit www.blackhillscorp.com.
On March 2, 2023, Black Hills Corp. (NYSE: BKH) announced a public debt offering of $350 million in 5.95% senior unsecured notes, maturing on March 15, 2028. The offering is expected to close on March 7, 2023, pending customary conditions. Proceeds from this offering will be utilized to repay existing notes under its commercial paper program and for general corporate purposes. Interested parties can access the prospectus via the SEC's EDGAR website. This announcement does not constitute an offer to sell or solicit securities in jurisdictions where it would be unlawful.
Black Hills Corp. (NYSE: BKH) will engage with investors at the Morgan Stanley Global Energy & Power Conference on Feb. 27 and the Bank of America Power, Utilities and Clean Energy Conference on Feb. 28. The company reaffirms its 2023 earnings guidance of $3.65 to $3.85 per share, as previously announced on Feb. 8. Leadership will discuss this guidance, long-term growth targets, and regulatory updates during the events. Investor materials will be accessible on the company’s website under the Investor Relations section. Black Hills Corp. serves 1.3 million customers across eight states, focusing on providing energy solutions.
On February 7, 2023, Black Hills Corp. (BKH) reported its fourth-quarter and full-year 2022 financial results, showing a net income of $72.5 million for Q4, up from $71.2 million in 2021, and full-year net income of $258.4 million, also higher than $236.7 million in 2021. The revised EPS guidance for 2023 is $3.65 to $3.85, down from $4.00 to $4.20, due to elevated interest rates, inflation, and volatile natural gas prices. The company plans $3.5 billion in capital investments through 2027, with a long-term earnings growth target of 4% to 6%. Additionally, all electric utilities set new winter peak loads in December 2022, with significant growth in customer demand.
Black Hills Corp. (NYSE: BKH) announced that its Wyoming electric utility, Cheyenne Light, Fuel and Power Company, received approval from the Wyoming Public Service Commission for a settlement agreement. This allows the company to recover approximately $250 million in investments since the last rate review in 2014. The new rates, effective March 1, 2023, will generate around $8.7 million in annual revenue based on a capital structure of 52% equity and 48% debt, with a return on equity of 9.75%. The settlement also includes a new transmission rider for recovering transmission expenses.
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