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.
On March 2, 2023, Black Hills Corp. (NYSE: BKH) announced a public debt offering of $350 million in 5.95% senior unsecured notes, maturing on March 15, 2028. The offering is expected to close on March 7, 2023, pending customary conditions. Proceeds from this offering will be utilized to repay existing notes under its commercial paper program and for general corporate purposes. Interested parties can access the prospectus via the SEC's EDGAR website. This announcement does not constitute an offer to sell or solicit securities in jurisdictions where it would be unlawful.
Black Hills Corp. (NYSE: BKH) will engage with investors at the Morgan Stanley Global Energy & Power Conference on Feb. 27 and the Bank of America Power, Utilities and Clean Energy Conference on Feb. 28. The company reaffirms its 2023 earnings guidance of $3.65 to $3.85 per share, as previously announced on Feb. 8. Leadership will discuss this guidance, long-term growth targets, and regulatory updates during the events. Investor materials will be accessible on the company’s website under the Investor Relations section. Black Hills Corp. serves 1.3 million customers across eight states, focusing on providing energy solutions.
On February 7, 2023, Black Hills Corp. (BKH) reported its fourth-quarter and full-year 2022 financial results, showing a net income of $72.5 million for Q4, up from $71.2 million in 2021, and full-year net income of $258.4 million, also higher than $236.7 million in 2021. The revised EPS guidance for 2023 is $3.65 to $3.85, down from $4.00 to $4.20, due to elevated interest rates, inflation, and volatile natural gas prices. The company plans $3.5 billion in capital investments through 2027, with a long-term earnings growth target of 4% to 6%. Additionally, all electric utilities set new winter peak loads in December 2022, with significant growth in customer demand.
Black Hills Corp. (NYSE: BKH) announced that its Wyoming electric utility, Cheyenne Light, Fuel and Power Company, received approval from the Wyoming Public Service Commission for a settlement agreement. This allows the company to recover approximately $250 million in investments since the last rate review in 2014. The new rates, effective March 1, 2023, will generate around $8.7 million in annual revenue based on a capital structure of 52% equity and 48% debt, with a return on equity of 9.75%. The settlement also includes a new transmission rider for recovering transmission expenses.
Black Hills Corp. (BKH) announced a quarterly dividend of $0.625 per share for common shareholders of record as of February 14, 2023, payable on March 1, 2023. This marks the company's 81st consecutive year of dividend payments since its incorporation in 1942. Additionally, Black Hills is set to release its 2022 fourth-quarter and full-year earnings on February 7, 2023, with a conference call scheduled for February 8, 2023, at 11 a.m. EST to discuss the financial results. This information underscores the company’s commitment to returning value to shareholders while maintaining transparency in financial reporting.
Black Hills Corp. (NYSE: BKH) will announce its 2022 fourth quarter and full year earnings on Feb. 7, 2023, after market close. A live conference call and webcast will take place on Feb. 8, 2023, at 11 a.m. EST to discuss the financial results. Investors can access the webcast via their website under the Investor Relations section. The company, serving 1.3 million customers across eight states, focuses on being a growth-oriented utility provider, with the vision to be the energy partner of choice.
Black Hills Corp. (NYSE: BKH) announced a four-year fuel supply contract through its subsidiary, Wyodak Resources Development Corp., for the 402-megawatt Wyodak Power Plant. The contract, effective from January 1, 2023, maintains similar pricing terms to the previous agreement, allowing for monthly and quarterly adjustments. Wyodak Resources will remain the sole coal supplier for the plant, which is majority-owned by PacifiCorp. This partnership aims to ensure a secure and competitive fuel supply for the facility, which serves critical baseload capacity for their customers.
Black Hills Corp. (NYSE: BKH) will engage with investors at the Bank of America Gas Utility Conference on Dec. 5, 2022, and the Wells Fargo Midstream and Utilities Symposium on Dec. 7, 2022. The company's senior leadership team will discuss the 2022 and 2023 earnings guidance, long-term growth targets, and regulatory updates. These materials will be accessible on their website prior to the events. Serving over 1.3 million customers across eight states, Black Hills is focused on being the energy partner of choice.
Black Hills Corp. (NYSE: BKH) has appointed Courtney Hebert as vice president-corporate controller and chief risk officer, effective immediately. Hebert, who has over 20 years of financial experience, previously served as assistant controller and chief risk officer and has a strong background in utility roles and compliance. This appointment follows Kimberly Nooney's promotion to chief financial officer, reinforcing the company's succession strategy within its finance team. Both leaders aim to drive the company's long-term growth strategy.
Black Hills Corp. (NYSE: BKH) reported solid financial results for Q3 2022, with net income of $35 million and EPS of $0.54. Year-to-date EPS increased by 9% to $2.86. The company reaffirmed 2022 EPS guidance ($3.95-$4.15) and initiated 2023 guidance ($4.00-$4.20). Capital investments forecasted rose to $3.5 billion. A 5% dividend increase was announced, marking 52 years of consecutive raises. Key projects like the Ready Wyoming transmission expansion are set to enhance service and growth. The company aims for Net Zero emissions by 2035, doubling its prior target.
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