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 news coverage encompasses developments across the company's electric and natural gas utility operations spanning eight states. Investors monitor announcements related to regulatory proceedings including rate case filings, resource plan approvals, and cost recovery mechanisms that directly impact revenue and earnings. News about major capital projects such as electric transmission expansions, new generation facilities, and natural gas infrastructure investments provides insight into growth initiatives and future rate base expansion.
Clean energy developments represent an increasingly important news category, with updates on renewable energy project approvals, construction milestones for wind and solar facilities, battery storage deployments, and progress toward emissions reduction targets. Regulatory commission decisions regarding renewable energy plans and cost recovery can significantly affect the company's clean energy transition timeline and financial outcomes. Mergers, acquisitions, and strategic partnerships also generate substantial news interest as the utility industry continues to consolidate and evolve.
Operational performance news includes updates on service reliability metrics, customer growth statistics, weather-related impacts on earnings, and responses to major storm events or service disruptions. Dividend announcements receive significant attention given the company's long history of dividend growth, with investors closely tracking payout ratios, dividend increase percentages, and sustainability of the dividend program. Quarterly earnings releases and guidance updates provide critical information about financial performance, regulatory outcomes, capital expenditure plans, and management's outlook for future periods, driving trading activity and analyst estimate revisions.
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.
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