Black Hills Stock Price, News & Analysis

Black Hills Corp. (NYSE: BKH) announced that its Arkansas natural gas utility, Black Hills Energy Arkansas, Inc., received approval from the Arkansas Public Service Commission for new rates effective October 2024. The approved settlement agreement will:

• Generate approximately $25.4 million in new annual revenues
• Migrate $3.7 million in annual rider revenue to base rates
• Result in a total annual base rate revenue increase of $29.1 million

The new rates are designed to recover about $130 million of pipeline system investments made since 2021. The approval allows a 9.85% return on equity and a capital structure of 46% equity and 54% debt. Black Hills Corp. serves 1.34 million natural gas and electric utility customers across eight states.

Black Hills Corp. (NYSE: BKH) has successfully completed its 2024 equity issuances through a block equity trade via its at-the-market (ATM) equity offering program. The company raised net proceeds of $181.6 million by issuing 3.3 million shares, meeting its previously stated equity needs of $170 million to $190 million for 2024. These funds will be used to finance the company's capital expenditure program and for general corporate purposes.

CEO Linn Evans stated that this financing supports the execution of Black Hills Corp.'s long-term strategic plan, including growth initiatives like the Ready Wyoming electric transmission expansion project and other safety and integrity investments. Black Hills Corp. serves 1.34 million natural gas and electric utility customers across eight states in the U.S.

Black Hills Corp. (NYSE: BKH) reported Q2 2024 earnings of $0.33 per share, down from $0.35 in Q2 2023. Year-to-date earnings increased 6% compared to last year. The company reaffirmed its 2024 EPS guidance of $3.80 to $4.00. Key highlights include:

- Partnering with Meta to power a new AI data center in Cheyenne, Wyoming

- Advancing regulatory activities to recover investments and costs

- Pursuing approval for clean energy resources in Colorado

- Planning to add 100 MW of utility-owned generation in South Dakota by 2026

- Continuing construction of the 260-mile Ready Wyoming electric transmission line

The company reported progress on its climate goals, including a 27% reduction in greenhouse gas emissions from its natural gas distribution system since 2022.

Black Hills Corp. (NYSE: BKH) has announced a quarterly dividend of $0.65 per share, payable on Sept. 1, 2024, to common shareholders of record as of Aug. 19, 2024. The company will release its 2024 second quarter earnings on July 31, 2024, after market close, followed by a live conference call and webcast on Aug. 1, 2024, at 11 a.m. EDT. Investors can access the webcast through the company's website or participate via phone by registering online. Black Hills Corp. is a customer-focused utility company serving 1.34 million natural gas and electric utility customers across eight states.

Black Hills Corp. (NYSE: BKH) announced a partnership with Meta to power its new data center in Cheyenne, Wyoming. Black Hills Energy, operating through Cheyenne Light, Fuel & Power, will provide customized energy solutions and high reliability. This partnership leverages the Large Power Contract Service tariff, enabling efficient energy procurement for industrial clients since 2016. The initiative supports Wyoming's economic diversification and is expected to boost Black Hills' earnings per share from 5% to 10% over the next five years. Black Hills Corp. serves 1.34 million customers across eight states.

Black Hills Corp. (NYSE: BKH) will release its 2024 second quarter earnings on July 31, 2024, after market close, with a live conference call and webcast scheduled for 11 a.m. EDT on August 1, 2024. Investors can access the webcast via the company's website under the 'Investor Relations' section. Registration for the event is required, providing access details and a personal identification number upon completion. A replay will be available online for up to one year. Black Hills Corp. is a utility company serving 1.34 million customers across eight states, focusing on natural gas and electric utility services.

Black Hills Corp. (NYSE: BKH) has appointed Salvador (Sal) Diaz as the new director of investor relations. He takes over from Jerome Nichols, who will retire on August 5, 2024, after two decades with the company. Diaz brings over 20 years of experience in investor relations and capital markets, including roles in investment banking and equity research. He has worked with companies across various industries and most recently led investor relations at a pre-IPO digital identity firm. Diaz holds an MBA from Wharton, a graduate diploma from Cambridge, and an industrial engineering degree from the University of the Philippines. Black Hills Corp. serves 1.34 million customers in eight states and aims to be the preferred energy partner.

Black Hills Corp. (NYSE: BKH) has released its 2023 Corporate Sustainability Report, underscoring significant environmental, social, and governance achievements. Since 2022, the company reduced greenhouse gas emissions from its natural gas distribution system by 27%. Additionally, electric utility emissions have been reduced by nearly one-third since 2005, with a goal to cut electric emissions intensity by 40% by 2030 and 70% by 2040. The Colorado Clean Energy Plan aims to add 400 MW of renewable energy and battery storage, targeting an 89% emissions reduction by 2030. The company is enhancing its renewable natural gas (RNG) infrastructure and expanding its Green Forward program. In 2023, Black Hills Corp. received a Wyoming Energy Authority grant to develop a pilot hydrogen plant at its Neil Simpson energy complex. The company's community support amounted to $6.1 million, with employees contributing $495,000 to United Way organizations. Black Hills Corp.'s 2023 direct economic impact was $1.35 billion.

Black Hills Corp. (NYSE: BKH) announced on June 18, 2024, that Todd Jacobs, senior vice president of growth and strategy, will leave the company, with his last day set for July 8. Jacobs joined Black Hills Corp. in 2014 and has served in various leadership roles, including overseeing operations in Kansas and Arkansas, and as vice president of natural gas utilities. CEO Linn Evans praised Jacobs for his contributions over the past decade. The company assured a smooth transition of Jacobs' duties but did not specify immediate plans for his replacement. Black Hills Corp. serves 1.34 million customers across eight states, focusing on natural gas and electric utilities.