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 news coverage encompasses developments across the company's electric and natural gas utility operations spanning eight states. Investors monitor announcements related to regulatory proceedings including rate case filings, resource plan approvals, and cost recovery mechanisms that directly impact revenue and earnings. News about major capital projects such as electric transmission expansions, new generation facilities, and natural gas infrastructure investments provides insight into growth initiatives and future rate base expansion.
Clean energy developments represent an increasingly important news category, with updates on renewable energy project approvals, construction milestones for wind and solar facilities, battery storage deployments, and progress toward emissions reduction targets. Regulatory commission decisions regarding renewable energy plans and cost recovery can significantly affect the company's clean energy transition timeline and financial outcomes. Mergers, acquisitions, and strategic partnerships also generate substantial news interest as the utility industry continues to consolidate and evolve.
Operational performance news includes updates on service reliability metrics, customer growth statistics, weather-related impacts on earnings, and responses to major storm events or service disruptions. Dividend announcements receive significant attention given the company's long history of dividend growth, with investors closely tracking payout ratios, dividend increase percentages, and sustainability of the dividend program. Quarterly earnings releases and guidance updates provide critical information about financial performance, regulatory outcomes, capital expenditure plans, and management's outlook for future periods, driving trading activity and analyst estimate revisions.
Black Hills Corp. (NYSE: BKH) announced a significant milestone on June 21, 2022, as its Wyoming electric utility, Black Hills Energy, signed a five-year agreement to provide up to 45 megawatts of electric service to a new crypto mining facility in Cheyenne. The facility, one of the largest in the region, will be operational by Q4 2022. The Blockchain Interruptible Service Tariff, developed to attract high-energy demand customers, offers benefits like increased local taxes and job creation, while prioritizing existing retail customers' needs.
Black Hills Corp. (NYSE: BKH) announced a new proposal through its subsidiary, Black Hills Energy, for a renewable natural gas and carbon offset program aimed at residential and business customers in Colorado. This voluntary program, designed based on customer feedback, will allow participants to offset their natural gas emissions by purchasing fixed-price blocks at $5 each. The comprehensive pilot program will run from 2023 to 2026, pending approval from the Colorado Public Utilities Commission. Black Hills Energy plans to expand the proposal to other states, including Kansas and Nebraska, later this summer.
Black Hills Corp. (NYSE: BKH) announced a rate review application for $15.4 million in new annual revenue for its Wyoming utility, Cheyenne Light, Fuel and Power Company. The request comes after $250 million of investments in safety and reliability upgrades since the last rate filing in 2013, benefiting approximately 44,000 customers. The application seeks a capital structure of 54% equity and 46% debt, with a proposed return on equity of 10.3%. New rates are targeted for implementation in Q1 2023.
Black Hills Corp. (NYSE: BKH) announced its '2030 Ready Plan' aiming for a 90% reduction in greenhouse gas emissions by 2030, based on 2005 levels. The plan aligns with Colorado's '80 x 30' mandate, proposing 450 megawatts of new renewable energy and battery storage. Key components include 149 MW of wind and 258 MW of solar generation. The Colorado Public Utilities Commission will review the plan, with decisions expected by April 2023, after which a competitive solicitation for resources will occur.
Black Hills Corp. (NYSE: BKH) has announced its participation in the American Gas Association Financial Forum on May 17-18, 2022. During this event, the company's senior leadership team will discuss key topics including strategic initiatives, guidance, and long-term growth targets. The materials presented at these meetings will be accessible on the Black Hills website under the 'Investor Relations' section. Black Hills operates as a utility provider in eight states, serving 1.3 million customers in the natural gas and electric sectors.
Black Hills Corp. (BKH) reported a strong first quarter of 2022 with net income of $117.5 million, up 22% from $96.3 million in 2021, translating to earnings per share (EPS) of $1.82, an 18% increase. Excluding prior year impacts from Winter Storm Uri, EPS rose 8%. Key growth drivers included new rates, customer growth, and increased energy sales. The company reaffirmed its 2022 EPS guidance of $3.95 to $4.15, citing favorable operational performance and effective regulatory execution. However, it faces challenges from supply chain issues and inflation.
Black Hills Corp (NYSE: BKH) announced a quarterly dividend of $0.595 per share, declared on April 25, 2022. Shareholders on record as of May 18, 2022, will receive payment on June 1, 2022. The company will release its Q1 2022 earnings after market close on May 4, 2022, and a conference call will be held on May 5, 2022, at 11 a.m. EDT to discuss the results. Black Hills Corp serves 1.3 million customers across eight states, focusing on being a resilient energy partner.
Black Hills Corp. (NYSE: BKH) will hold its Annual Meeting of Shareholders on April 26, 2022, at 9:30 a.m. MDT in Rapid City, South Dakota. Shareholders can attend in person or join virtually via webcast or phone. Voting via the webcast is not permitted, so shareholders are encouraged to return their proxy cards to ensure their votes are counted. The meeting will be archived for future access on the company's website. Black Hills Corp. serves 1.3 million utility customers across eight states, emphasizing customer focus and growth.
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.
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