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 (NYSE: BKH) is a regulated electric and natural gas utility based in Rapid City, South Dakota, serving approximately 1.35 million utility customers across Arkansas, Colorado, Iowa, Kansas, Montana, Nebraska, South Dakota and Wyoming. The news surrounding BKH often centers on its earnings releases, regulatory developments, capital projects and corporate transactions.
Investors following BKH news can expect regular updates on quarterly and full-year financial results, including discussions of segment performance in the Electric Utilities and Gas Utilities businesses, non-GAAP adjusted earnings and the impact of new customer rates and rider recovery. The company frequently announces dividend declarations, reflecting its long history of paying and increasing dividends on common stock.
Black Hills’ news flow also highlights major infrastructure and growth projects. Recent announcements have covered the completion and energization of the 260-mile Ready Wyoming electric transmission expansion project, construction progress on the 99-megawatt Lange II gas-fired generation facility in South Dakota, and steps to advance a Clean Energy Plan in Colorado involving battery storage and solar resources. Updates on gas utility rate reviews and settlements in states such as Nebraska, Kansas and Arkansas provide insight into how the company recovers investments in system safety, reliability and integrity.
A key theme in recent BKH coverage is the planned all-stock merger with NorthWestern Energy Group, Inc., detailed in multiple Form 8-K filings and joint press releases. News items describe the merger agreement, regulatory and shareholder approval processes and illustrative pro forma financial information. Additional corporate news includes equity issuances, public debt offerings and the establishment of an Emergency Public Safety Power Shutoff program to address wildfire risk. For investors and observers, the BKH news page offers a consolidated view of these financial, regulatory and operational developments over time.
On October 11, 2022, Black Hills Corp. (NYSE: BKH) submitted a rate review application to the Colorado Public Utility Commission, seeking $12.3 million in new annual revenue. This request follows over $120 million invested in safety and system integrity for its natural gas pipeline infrastructure since 2017. The application proposes a capital structure of 52% equity and a 12.25% return on equity, with new rates aimed for implementation by July 16, 2023. This move underscores the company's commitment to delivering safe and reliable natural gas service to customers.
Black Hills Corp. (NYSE: BKH) announced that its Arkansas utility, Black Hills Energy, has received approval from the Arkansas Public Service Commission for new rates to recover over $220 million in investments since 2018. The new rates, starting mid-October 2022, are expected to generate an estimated $8.8 million in annual revenue. The commission approved a capital structure of 45% equity and 55% debt, as well as a return on equity of 9.6%. The plan includes a Safety and Integrity Rider to enhance infrastructure safety and supports the company’s goal of Net Zero emissions by 2035.
Black Hills Corp. (NYSE: BKH) will report its third quarter earnings for 2022 on November 2, after market close. A live conference call and webcast are scheduled for November 3 at 11 a.m. EDT. The company, based in Rapid City, South Dakota, serves 1.3 million customers across eight states. Interested parties can access the webcast through the company's Investor Relations section on their website. The company focuses on delivering energy solutions and aims to be the partner of choice for its customers.
Summary not available.
Black Hills Corp. (BKH) reported second quarter 2022 net income of $33.4 million ($0.52 EPS), up from $25.2 million ($0.40 EPS) in Q2 2021. For the first half, net income reached $150.9 million ($2.33 EPS), compared to $121.5 million ($1.93 EPS) year-over-year. The results were bolstered by new rates and a one-time $0.12 per share benefit from Winter Storm Uri costs. The company aims for a 90% reduction in greenhouse gas emissions by 2030 and has advanced renewable energy projects. BKH maintains its 2022 EPS guidance of $3.95 to $4.15, despite challenges from inflation and supply chain issues.
Black Hills Corp. (NYSE: BKH) declared a quarterly dividend of $0.595 per share, payable on Sept. 1, 2022, to shareholders of record by Aug. 18, 2022. The company's second quarter earnings will be released after market close on Aug. 3, 2022, followed by a live conference call on Aug. 4, 2022, at 11 a.m. EDT to discuss financial results. Black Hills Corp. serves 1.3 million utility customers across eight states, emphasizing its commitment to being a customer-focused, growth-oriented energy provider.
Black Hills Corp. (NYSE: BKH) will announce its Q2 2022 earnings on August 3, 2022, after market close. A live conference call is scheduled for August 4, 2022, at 11 a.m. EDT to discuss the financial results. Investors can access the webcast through the company’s website under the Investor Relations section. They can also listen by phone after registering to obtain dial-in information. Black Hills Corp. serves approximately 1.3 million utility customers across eight states, focusing on growth and customer satisfaction.
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.