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) will report its 2022 first quarter earnings on May 4, 2022, following market close. A conference call will be held on May 5, 2022, at 11 a.m. EDT to discuss the financial results. The company, based in Rapid City, South Dakota, services 1.3 million utility customers across eight states. Interested parties can access the live webcast on the company’s investor relations page. A replay will be available post-event.
Black Hills Corp. (NYSE: BKH) announced its participation in the Morgan Stanley Energy & Power Conference on Feb. 28 and the Bank of America Power, Utilities and Clean Energy Leaders Conference on March 1. The company reaffirms its 2022 earnings guidance of $3.95 to $4.15 per share. Leadership will discuss guidance, growth targets, and regulatory updates at these investor meetings. Materials for the conferences will be accessible on the company's website under the 'Investor Relations' section.
Black Hills Corp. (NYSE: BKH) announced its Wyoming subsidiary, Cheyenne Light, Fuel and Power Company, submitted a request to the Wyoming Public Service Commission for a certificate to build a $260 million transmission expansion project named Ready Wyoming. The project aims to enhance long-term price stability and interconnect various electric systems, supporting customer energy needs and renewable resource access. Construction is planned from 2023 to 2025, featuring new and expanded substations and transmission lines.
Black Hills Corp. (BKH) reported its financial results for Q4 and the full year 2021, showing a net income of $71.2 million, down from $77.2 million in Q4 2020. The earnings per share (EPS) for 2021 was $3.74, benefiting from new rates and customer growth, despite weather impacts reducing Q4 earnings by $0.16. The company plans to invest over $3.2 billion in the next five years and aims for a 5%-7% EPS growth target through 2026. Black Hills also declared a quarterly dividend of $0.595 per share, continuing its streak of 51 consecutive years of dividend increases.
Black Hills Corp. (NYSE: BKH) announced a quarterly dividend of $0.595 per share, payable on March 1, 2022 to shareholders on record as of February 14, 2022. The company's fourth quarter and full year earnings will be released after the market closes on February 9, 2022, followed by a conference call on February 10, 2022, at 11 a.m. EST. Black Hills serves approximately 1.3 million utility customers across eight states.
Black Hills Corp. (NYSE: BKH) will announce its 2021 fourth quarter and full year earnings on February 9, 2022, after market close. A live conference call and webcast will be held on February 10, 2022, at 11 a.m. EST to discuss the financial results. The company serves 1.3 million utility customers across eight states and is focused on being the energy partner of choice. Interested parties can access the webcast on the company's website under 'Investor Relations.'
Black Hills Corp. (NYSE: BKH) announced final approvals for rate reviews for its natural gas utilities in Colorado, Iowa, and Kansas, aimed at recovering investments in infrastructure. The Colorado utility expects an estimated $6.49 million in additional annual revenues, effective Jan. 1, 2022. Iowa’s utility will gain approximately $3.7 million in new revenues, while Kansas will migrate $6.6 million of rider revenue to base rates. The company emphasizes ongoing investments in safety and reliability to support local communities across the three states.
Black Hills Corp. (NYSE: BKH) announced a rate review application with the Arkansas Public Service Commission, seeking $21.6 million in annual revenue. This request follows over $220 million invested in natural gas pipeline safety and reliability since 2017, addressing system growth and regulatory compliance. The proposed capital structure includes 50.9% equity and a 10.2% return on equity. Black Hills Energy aims to implement new rates by Q4 2022, supporting its commitment to provide reliable service and advance clean energy goals.
Black Hills Corp. (NYSE: BKH) provides a regulatory update concerning its Winter Storm Uri cost recovery applications totaling $546 million and the finalization of rate reviews in preparation for investor meetings. The company anticipates recovering these costs fully and expects decisions on three rate reviews by year-end 2021. Leadership plans to engage with investors at significant conferences on December 7 and 8. These developments are crucial for stakeholders as they directly impact the company’s financial resilience and regulatory compliance.
Black Hills Corp. (NYSE: BKH) announced upcoming virtual investor conferences on Nov. 29-30, Dec. 7, and Dec. 8, 2021. During these events, senior leadership will share insights on the company's guidance, long-term growth targets, and regulatory updates. The company reaffirms its guidance range previously issued on Nov. 2. Conference materials will be available on the Black Hills website. Serving 1.3 million customers across eight states, Black Hills is a growth-oriented utility company with a focus on improving lives through energy.
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