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 announced it will not participate in CenterPoint Energy's sale of gas distribution assets in Arkansas and Oklahoma, deeming them non-strategic.
The company emphasizes growth through its $2.9 billion capital investment program from 2020 to 2024, focusing on organic customer-oriented projects. President and CEO Linn Evans stated acquisitions will only be considered if they are highly strategic.
Black Hills Corp. (NYSE: BKH) has completed its $79 million Corriedale Wind Energy Project in Cheyenne, Wyoming. This 52.5-megawatt facility is producing renewable energy for customers enrolled in the Renewable Ready Program. The project features 21 wind turbines and utilizes advanced digital wind power tools to enhance performance by up to 7%. Black Hills now operates approximately 281 megawatts of renewable wind generation, constituting 25% of its total generation capacity, benefiting local communities through job creation and taxes.
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Black Hills Corp. (NYSE: BKH) reported a strong third quarter of 2020, achieving net income of $36.3 million, or $0.58 per share, marking a 32% increase year-over-year. The company raised its 2020 EPS guidance range to $3.60-$3.70 and introduced a 2021 guidance of $3.75-$3.95. A $239 million increase in its capital investment forecast to $2.9 billion was also announced. Additionally, the quarterly dividend was raised by 5.6% to $0.565 per share, continuing a streak of annual dividend increases. This robust performance reflects customer growth and favorable weather conditions.
Black Hills Corp (NYSE: BKH) announced that on November 5, it will release new greenhouse gas (GHG) emission reduction goals for its utility operations, along with an updated Corporate Sustainability Report. This follows the company's commitment to advancing its environmental, social, and governance (ESG) disclosures. Additionally, the leadership team, including President and CEO Linn Evans, will present at the Virtual 2020 Edison Electric Institute Financial Conference on November 9 and 10, with a presentation scheduled for November 10 at 3 p.m. EST.
Black Hills Corp. (BKH) has announced a quarterly dividend of 56.5 cents per share, marking a 5.6% increase over the prior quarter.
This declaration celebrates the company's 50th consecutive year of annual dividend increases, reinforcing its commitment to returning value to shareholders.
The dividend will be paid on December 1, 2020, to common shareholders of record as of November 17, 2020. With this, Black Hills has maintained a consistent dividend payout for 78 years.
Black Hills Corp. (NYSE: BKH) announced a significant development with the approval of a 60-megawatt power purchase agreement from the Federal Energy Regulatory Commission. The agreement allows Cheyenne Light to secure base load capacity from the Wygen I power plant, ensuring energy provision until December 31, 2032. This contract addresses a generation shortfall and supports grid stability as Cheyenne Light integrates more renewable resources. The Wygen I plant offers reliable, low-cost energy, benefitting both the utility and local employment.
On Nov. 2, 2020, after market close, Black Hills Corp. (NYSE: BKH) will announce its Q3 2020 earnings. A conference call and webcast is scheduled for Nov. 3, 2020, at 11 a.m. EST to discuss financial results. Black Hills Corp., based in Rapid City, South Dakota, provides natural gas and electric service to approximately 1.28 million customers across eight states. Interested parties can access the live webcast via their investor relations portal. A replay will be available afterward.
Black Hills Corp. (NYSE: BKH) announced the appointment of Barry M. Granger and Scott M. Prochazka to its board of directors, effective October 1, 2020. This decision coincides with a temporary expansion of the board's size from 10 to 12 directors, anticipating future retirements. Chairman Steven Mills expressed confidence that their expertise will enhance board effectiveness. Granger brings over 35 years of experience from DuPont and Dow Chemical, while Prochazka has a strong background in regulated utilities, previously serving as CEO of CenterPoint Energy, emphasizing innovation and customer focus.
Black Hills Corp. (NYSE: BKH) submitted a rate review application to the Colorado Public Utilities Commission on September 11, 2020, seeking $13.5 million in annual revenue to recover investments in natural gas infrastructure. The proposal includes a five-year safety and integrity rider. Since July 2018, Colorado Gas has invested over $105 million in system upgrades, serving 192,000 customers with a 7,000-mile pipeline network. The company aims to implement new rates by Q2 2021, proposing a capital structure of 50% equity and 50% debt with a return on equity of 9.95%.