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 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.
On June 14, 2024, Black Hills Corp. (NYSE: BKH) announced that its Colorado electric utility, Black Hills Colorado Electric, (Black Hills Energy), filed a request with the Colorado Public Utilities Commission to update its electric rates, marking the first rate review in eight years. This request aims to address the rising costs of operations, maintenance, and upgrades of the electric system serving over 100,000 customers in Southern Colorado. Since 2016, Black Hills Energy has invested approximately $371 million in capital and plans an additional $98 million in 2024. The proposed rate review seeks an additional annual revenue of $36.7 million, with a capital structure comprising 52.75% equity and 47.25% long-term debt, and a return on equity of 10.5%. The new rates are expected to be effective in the first quarter of 2025.
On May 13, 2024, Black Hills Corp. (NYSE: BKH) announced the pricing of a $450 million debt offering in the form of 6.00% senior unsecured notes due on January 15, 2035. The offering is expected to close on May 16, 2024, pending customary conditions. Net proceeds will be used to repay $600 million of outstanding notes maturing on August 23, 2024, with any surplus funds allocated for general corporate purposes. The offering is conducted via a prospectus supplement filed with the SEC, and copies are available through EDGAR or from Wells Fargo Securities and BofA Securities. This announcement does not constitute an offer to sell these securities in any unauthorized jurisdiction.
Oklo Inc. starts trading on the New York Stock Exchange with the ticker symbol 'OKLO' after completing a merger with AltC Acquisition Corp. The company received $306 million in gross transaction proceeds to support its business plan of providing clean, reliable, affordable energy to various markets. Oklo's newly appointed board of directors comprises industry leaders with Sam Altman as chairman. The company aims to drive growth through strategic partnerships and its unique owner-operator model.
Black Hills Corp. reported an 8% increase in earnings per share for the first quarter of 2024 compared to the same period in 2023. The financial results were driven by new rates, rider recovery, and lower operating expenses. The company reaffirmed its 2024 earnings guidance of $3.80 to $4.00 per share. They also highlighted progress in regulatory schedules, resource plans, and utility acquisitions. Electric and gas utility margins improved, and the company issued new common stock. Black Hills' board approved a quarterly dividend, and Fitch Ratings affirmed its issuer default rating. Overall, the company showed strong financial performance and operational efficiency.
AltC Acquisition Corp. stockholders approved a business combination with Oklo, a clean power technology company, resulting in over $306 million of gross proceeds for Oklo. The business combination is expected to close on May 9, 2024. Sam Altman will serve as the chairman of the newly appointed board of directors for Oklo.
Black Hills Corp.'s Iowa natural gas utility, Black Hills Energy, filed a rate review application with the Iowa Utilities Board for $20.7 million in new annual revenue. The request reflects critical system investments and inflationary impacts on costs to ensure safe and reliable natural gas delivery to over 163,000 customers across 133 communities. The company plans to implement interim rates within 10 days of the application and final rates by Q1 2025.