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. (NYSE: BKH) announces CFO Richard Kinzley's retirement in mid-2023 after 23 years with the company. Vice President Kimberly Nooney will succeed him as CFO and Treasurer, effective April 1, 2023. Kinzley has played an essential role in the company's growth and capital allocation since becoming CFO in 2015. Nooney, a 26-year veteran at Black Hills, brings extensive experience in finance and accounting. The smooth transition is expected to support the company's future growth as it navigates to a new energy landscape.
Black Hills Corp. (NYSE: BKH) has announced a quarterly dividend increase of $0.625 per share, up 5.0% from the previous quarter. Shareholders of record as of Nov. 17, 2022, will receive the payment on Dec. 1, 2022. This marks 52 consecutive years of dividend increases, affirming the company's commitment to delivering long-term value to its customers and shareholders. Additionally, it represents 80 years of annual dividends since its inception in February 1942.
Black Hills Corp. (NYSE: BKH) announced a significant step forward with the Wyoming Public Service Commission's approval for its $260 million transmission expansion project, known as Ready Wyoming. This 260-mile project aims to meet the growing energy demands of Wyoming customers, enhance electric system resiliency, and stabilize long-term pricing. Construction is set to begin in 2023, with completion expected in phases through 2025, providing over $100 million in economic benefits and up to 1,400 jobs in the region.
On October 11, 2022, Black Hills Corp. (NYSE: BKH) submitted a rate review application to the Colorado Public Utility Commission, seeking $12.3 million in new annual revenue. This request follows over $120 million invested in safety and system integrity for its natural gas pipeline infrastructure since 2017. The application proposes a capital structure of 52% equity and a 12.25% return on equity, with new rates aimed for implementation by July 16, 2023. This move underscores the company's commitment to delivering safe and reliable natural gas service to customers.
Black Hills Corp. (NYSE: BKH) announced that its Arkansas utility, Black Hills Energy, has received approval from the Arkansas Public Service Commission for new rates to recover over $220 million in investments since 2018. The new rates, starting mid-October 2022, are expected to generate an estimated $8.8 million in annual revenue. The commission approved a capital structure of 45% equity and 55% debt, as well as a return on equity of 9.6%. The plan includes a Safety and Integrity Rider to enhance infrastructure safety and supports the company’s goal of Net Zero emissions by 2035.
Black Hills Corp. (NYSE: BKH) will report its third quarter earnings for 2022 on November 2, after market close. A live conference call and webcast are scheduled for November 3 at 11 a.m. EDT. The company, based in Rapid City, South Dakota, serves 1.3 million customers across eight states. Interested parties can access the webcast through the company's Investor Relations section on their website. The company focuses on delivering energy solutions and aims to be the partner of choice for its customers.
Black Hills Corp. (BKH) reported second quarter 2022 net income of $33.4 million ($0.52 EPS), up from $25.2 million ($0.40 EPS) in Q2 2021. For the first half, net income reached $150.9 million ($2.33 EPS), compared to $121.5 million ($1.93 EPS) year-over-year. The results were bolstered by new rates and a one-time $0.12 per share benefit from Winter Storm Uri costs. The company aims for a 90% reduction in greenhouse gas emissions by 2030 and has advanced renewable energy projects. BKH maintains its 2022 EPS guidance of $3.95 to $4.15, despite challenges from inflation and supply chain issues.
Black Hills Corp. (NYSE: BKH) declared a quarterly dividend of $0.595 per share, payable on Sept. 1, 2022, to shareholders of record by Aug. 18, 2022. The company's second quarter earnings will be released after market close on Aug. 3, 2022, followed by a live conference call on Aug. 4, 2022, at 11 a.m. EDT to discuss financial results. Black Hills Corp. serves 1.3 million utility customers across eight states, emphasizing its commitment to being a customer-focused, growth-oriented energy provider.
Black Hills Corp. (NYSE: BKH) will announce its Q2 2022 earnings on August 3, 2022, after market close. A live conference call is scheduled for August 4, 2022, at 11 a.m. EDT to discuss the financial results. Investors can access the webcast through the company’s website under the Investor Relations section. They can also listen by phone after registering to obtain dial-in information. Black Hills Corp. serves approximately 1.3 million utility customers across eight states, focusing on growth and customer satisfaction.
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