Black Hills Stock Price, News & Analysis

Black Hills Corp. reported Q1 2021 net income of $96.3 million ($1.54 EPS), marking a slight increase from $93.2 million ($1.51 EPS) in Q1 2020. The financial results were impacted by Winter Storm Uri, which had a $0.15 adverse EPS effect, primarily from non-recoverable fuel costs. Despite this, the company is reaffirming its 2021 EPS guidance of $3.80 to $4.00 and is on track for a five-year capital plan exceeding $3 billion. Ongoing efforts include advancing renewable energy initiatives and managing costs related to the storm.

Black Hills Corporation has joined the ONE Future Coalition, aimed at reducing methane emissions from natural gas operations to 1% or less by 2025. Serving over 1.3 million customers across eight states, Black Hills Energy is positioned to contribute significantly to this initiative. The coalition, representing over 15% of the U.S. natural gas value chain, has already surpassed its methane intensity goals. Black Hills Energy's commitment to sustainability aligns with its mission to provide reliable energy, enhancing its corporate reputation and market stance.

Black Hills Corp. (NYSE: BKH) announced a quarterly dividend of $0.565 per share, payable on June 1, 2021, to shareholders of record by May 18, 2021. The company will release its first quarter 2021 earnings on May 4, 2021, after market close, followed by a conference call on May 5, 2021, at 11 a.m. EDT to discuss financial results. Black Hills serves 1.3 million customers across eight states, emphasizing its commitment to being a customer-focused and growth-oriented utility company.

Black Hills Corp. (NYSE:BKH) will conduct its Annual Meeting of Shareholders on April 27, 2021, at 9:30 a.m. MDT in Rapid City, South Dakota. Shareholders can attend in person or via a virtual platform due to the COVID-19 pandemic. Strict safety protocols will be in place, including social distancing and mask mandates. Voting will not be possible through the webcast; shareholders are encouraged to submit their proxy cards to ensure their votes are counted. The meeting's webcast will be archived for later access.

174 Power Global has signed a 15-year Power Purchase Agreement (PPA) with Black Hills Energy to develop the Turkey Creek Solar project in Pueblo County, Colorado. The 200 MW facility will provide electricity for around 46,000 homes, contributing to Black Hills' Renewable Advantage plan, which is projected to generate nearly $178 million in tax benefits. The project, costing over $200 million, will create approximately 250 construction jobs, with potential for 450 workers during peak phases. Construction is slated to start in 2022 and the project is expected to be operational by 2023.

Black Hills Corp. (NYSE: BKH) will release its 2021 Q1 earnings on May 4, 2021, after market close. Subsequently, a live conference call is scheduled for May 5, 2021, at 11 a.m. EDT to discuss these financial results. Investors can access the webcast via the company's website. Black Hills Corp. serves 1.3 million customers in eight states, focusing on growth and customer satisfaction.

On March 1, 2021, Black Hills Corp. (NYSE: BKH) reported significant impacts from extreme cold weather in February on its utility operations. The company incurred approximately $600 million in additional natural gas costs to meet demand. Initial estimates detailed $565 million in incremental costs across gas utilities with Arkansas leading at $165 million. Electric utilities faced $60 million, with Colorado Electric at $30 million. These figures are preliminary and subject to final accounting adjustments.

Black Hills Corp. (NYSE: BKH) announced that senior management will participate in several virtual investor conferences in March, addressing the impacts of extreme cold weather on its operations. Key events include the Credit Suisse Energy Summit on March 1 and the Morgan Stanley Energy Conference on March 2. Management will discuss increased energy demand and unprecedented market prices stemming from February's cold snap, particularly affecting its Choice Gas program in Nebraska and Wyoming. Additionally, the company reaffirms its 2021 and 2022 earnings guidance and recent financing activities to enhance liquidity.

Black Hills Corp. (NYSE: BKH) reported a 2020 GAAP EPS of $3.65, an increase from $3.28 in 2019. The company has raised its 2021 EPS guidance to $3.80-$4.00 and initiated 2022 guidance at $3.95-$4.15, projecting a long-term EPS growth rate of 5%-7%. A total of over $3 billion is slated for capital investments over five years, with $755 million spent in 2020 on infrastructure upgrades, including a new wind project. Black Hills celebrates 50 consecutive years of dividend increases, with a quarterly dividend of $0.565 declared for March 2021.