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.
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.
Black Hills Corp. (NYSE: BKH) has successfully completed its equity capital raising through its "at-the-market" equity offering program for 2021. The company sold $119.9 million worth of shares, totaling 1,812,197 shares at an average price of $66.18, resulting in net proceeds of $118.8 million. The funds will support capital investments, reduce short-term debt, and cover general corporate expenses. The company retains the ability to issue an additional $400 million in shares under their Equity Sales Distribution Agreement.
Black Hills Corp. (NYSE: BKH) announced a settlement agreement to recover $87.9 million in fuel costs incurred during Winter Storm Uri, affecting 117,000 customers in Kansas. The recovery will take place over five years, starting February 1, 2022, pending approval from the Kansas Corporation Commission. This settlement includes carrying costs associated with financing the fuel costs. CEO Linn Evans highlighted the importance of this agreement for continuing reliable service in extreme weather conditions, underlining the company’s commitment to its customers.
Black Hills Corp. (NYSE: BKH) announced a settlement in its rate review for its Iowa natural gas utility, allowing for a general rate increase aimed at enhancing service to 161,000 customers. The agreement, pending Iowa Utilities Board approval, will adjust rider revenue to base rates, generating an estimated additional $3.7 million annually. The company has significantly increased its infrastructure investments in Iowa, triple since its last rate filing, thereby reducing greenhouse gas emissions by over one-third since 2005. New rates are set to take effect on January 1, 2022.
Black Hills Corp. (BKH) reported a strong third quarter for 2021, with net income of $44.1 million ($0.70 per share), up 21% from the previous year. The company raised its 2021 EPS guidance to a range of $3.85 to $4.00 and reaffirmed its 2022 guidance at $3.95 to $4.15. A $149 million increase in the capital investment forecast brings it to $3.2 billion for 2021-2025. The quarterly dividend was increased by 5.3%, marking 51 years of consecutive dividend increases.
Black Hills Corp. (NYSE: BKH) has announced a quarterly dividend of $0.595 per share, reflecting a 5.3% increase over the previous quarter. This dividend, payable on December 1, 2021, is for shareholders on record as of November 17, 2021. With this announcement, the company continues its impressive track record, marking 51 consecutive years of dividend increases and 79 consecutive years of annual dividends. The firm emphasizes its commitment to sustainable growth and increasing long-term value for its customers and shareholders.