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.
Overview of Black Hills Corporation
Black Hills Corporation (NYSE: BKH) is a vertically integrated energy company headquartered in Rapid City, South Dakota. With a mission to "improve life with energy" and a vision to be "the energy partner of choice," Black Hills serves approximately 1.35 million natural gas and electric utility customers across eight U.S. states, including Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota, and Wyoming. The company operates through two primary segments: regulated utilities and non-regulated energy businesses, making it a key player in the energy sector.
Core Business Segments
Regulated Utilities
The regulated utilities segment forms the backbone of Black Hills’ operations, providing essential electric and natural gas services to residential, commercial, industrial, and municipal customers. This segment accounts for the majority of the company’s revenue, reflecting its stable and predictable cash flows. Black Hills operates electric utility systems that generate, transmit, and distribute electricity, as well as gas utility systems that deliver natural gas through extensive pipeline networks. The company’s focus on customer satisfaction is evident in its commitment to reliability, safety, and innovative energy solutions tailored to meet diverse customer needs.
Non-Regulated Energy Businesses
In addition to its regulated operations, Black Hills engages in non-regulated activities such as wholesale electricity generation and the production of natural gas, oil, and coal. These businesses complement its utility operations, providing additional revenue streams and strategic flexibility. However, they are subject to market volatility and regulatory scrutiny, which can impact profitability. The company’s wholesale electricity generation operations focus on serving both internal utility needs and external market demands, leveraging its expertise in energy production.
Geographic and Market Diversification
Black Hills’ operations span eight states, offering regional diversification that mitigates risks associated with localized economic or regulatory challenges. Its customer base is equally diverse, ranging from individual households to large-scale industrial facilities and municipal entities. This broad market reach enhances the company’s resilience and positions it as a vital energy provider in its service areas.
Strategic Initiatives and Growth
Black Hills is actively pursuing growth through infrastructure investments, regulatory rate reviews, and customer-focused initiatives. The company has outlined ambitious plans to expand its clean energy portfolio, aiming to reduce emissions by 80% by 2030 through its Clean Energy Plan. This includes adding renewable energy resources, modernizing infrastructure, and enhancing grid reliability. Additionally, Black Hills is leveraging its innovative energy solutions to attract high-demand customers such as data centers, which are increasingly seeking reliable and sustainable energy options.
Regulatory Environment
Operating in a highly regulated industry, Black Hills works closely with state and federal regulators to ensure cost recovery and secure funding for critical infrastructure projects. The company’s proactive approach to regulatory engagement supports its ability to maintain financial stability while meeting the evolving needs of its customers and communities.
Challenges and Opportunities
While Black Hills benefits from stable utility operations, it faces challenges such as regulatory complexities, weather-related demand fluctuations, and the transition to cleaner energy sources. However, its strategic focus on sustainability, customer engagement, and regional diversification positions it to capitalize on emerging opportunities in the energy sector, including the growing demand for renewable energy and advanced grid solutions.
Conclusion
Black Hills Corporation is a growth-oriented, customer-focused utility company with a strong presence in the U.S. energy market. By balancing its regulated utility operations with non-regulated energy businesses, the company offers a unique value proposition. Its commitment to innovation, sustainability, and operational excellence underscores its role as a reliable energy partner for customers and communities alike.
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.
Black Hills Corp. (BKH) announced a quarterly dividend of $0.625 per share for common shareholders of record as of February 14, 2023, payable on March 1, 2023. This marks the company's 81st consecutive year of dividend payments since its incorporation in 1942. Additionally, Black Hills is set to release its 2022 fourth-quarter and full-year earnings on February 7, 2023, with a conference call scheduled for February 8, 2023, at 11 a.m. EST to discuss the financial results. This information underscores the company’s commitment to returning value to shareholders while maintaining transparency in financial reporting.
Black Hills Corp. (NYSE: BKH) will announce its 2022 fourth quarter and full year earnings on Feb. 7, 2023, after market close. A live conference call and webcast will take place on Feb. 8, 2023, at 11 a.m. EST to discuss the financial results. Investors can access the webcast via their website under the Investor Relations section. The company, serving 1.3 million customers across eight states, focuses on being a growth-oriented utility provider, with the vision to be the energy partner of choice.
Black Hills Corp. (NYSE: BKH) announced a four-year fuel supply contract through its subsidiary, Wyodak Resources Development Corp., for the 402-megawatt Wyodak Power Plant. The contract, effective from January 1, 2023, maintains similar pricing terms to the previous agreement, allowing for monthly and quarterly adjustments. Wyodak Resources will remain the sole coal supplier for the plant, which is majority-owned by PacifiCorp. This partnership aims to ensure a secure and competitive fuel supply for the facility, which serves critical baseload capacity for their customers.
Black Hills Corp. (NYSE: BKH) will engage with investors at the Bank of America Gas Utility Conference on Dec. 5, 2022, and the Wells Fargo Midstream and Utilities Symposium on Dec. 7, 2022. The company's senior leadership team will discuss the 2022 and 2023 earnings guidance, long-term growth targets, and regulatory updates. These materials will be accessible on their website prior to the events. Serving over 1.3 million customers across eight states, Black Hills is focused on being the energy partner of choice.
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