Black Hills Corporation (NYSE:BKH) Q4 2023 Earnings Conference Call February 8, 2024 11:00 AM ET Company Participants Jerome Nichols - Director, IR Linden Evans - President and CEO Kimberly Nooney - SVP and CFO Marne Jones - SVP, Utilities Todd Jacobs - SVP, Growth and Strategy Conference Call Participants Anthony Crowdell - Mizuho Julien Dumoulin-Smith - Bank of America Andrew Weisel - Scotiabank Operator Good day, and thank you for standing by. Welcome to the Q4 and Full Year 2023 Black Hills Corporation ...

Delivered EPS of $3.91, above earnings guidance range of $3.65 to $3.85Improved year-over-year total net debt to capitalization ratio to 57.3% from 60.8%Increased quarterly dividend, extending annual dividend increase track record to 54 consecutive yearsInitiating 2024 EPS guidance range at $3.80 to $4.00Increasing five-year capital forecast by $800 million to $4.3 billion for 2024 through 2028 RAPID CITY, S.D., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE:BKH) today announced financial results ...

DUBUQUE, Iowa, Feb. 01, 2024 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE:BKH) today announced that its nonregulated subsidiary, Black Hills Energy Renewable Resources, completed the purchase of a renewable natural gas production facility in Dubuque, Iowa. The acquisition of the production facility at the Dubuque Metropolitan Area Solid Waste Agency site includes onsite infrastructure and the rights to RNG production at the landfill under a long-term contract. The facility currently injects RNG into the natu ...

Adventure_Photo A Dividend King Trading at a discount to its per share dividend growth rate Seeking high-yield alternatives before the Fed moves to lower interest rates, many investors are looking to the beaten-down Utilities sector. While this is a sector that operates heavily on debt and share dilution, their cash flow streams are maybe second only to taxes as far as the reliability of income is concerned. There are only a handful of Utility companies that are in the Dividend King category, with dividend ...

Moussa81Utility stocks haven't been crowd favorites over the past 12+ months, as higher interest rates and the tech rally have turned sentiment against this perceived slower-growth sector along with REITs and consumer staples. This is not bad news for dividend investors, however, as it gives them the opportunity to layer into quality names at below average valuations. Such I find the case to be with Black Hills Corp. (NYSE:BKH), which as shown below is down by 27% over the past 12 months and is trading ...

Passive income is probably what you want if you're trying to live off your nest egg in retirement. That means you'll be looking at dividend-paying stocks. Three that should be on your radar screen today are Black Hills (BKH -0.39%), Chevron (CVX 0.38%), and Enterprise Products Partners (EPD 0.37%). Here's why.1. Black Hills is a high-yield Dividend KingThere's nothing exciting about Black Hills. And that's exactly why the stock, and its generous 4.8% dividend yield, are so interesting. For starters, the com ...

RAPID CITY, S.D., Jan. 26, 2024 (GLOBE NEWSWIRE) -- Black Hills Corp. (NYSE:BKH) today announced that its board of directors approved a quarterly dividend of $0.65 per share, an increase of $0.025 per share over last quarter's dividend. Common shareholders of record at the close of business on Feb. 16, 2024, will receive $0.65 per share, payable March 1, 2024. "This dividend increase showcases our long-standing commitment to reward shareholders with a sustainable, growing dividend," said Linn Evans, preside ...

Some companies are just boring. They operate in dull industries where not much excitement happens. Because of that, they slowly plod along, often paying attractive dividends along the way. However, slow and steady can win over the long term. That's why some Fool.com contributors are rather excited about the total return potential of Black Hills Corporation (BKH -0.83%), Enbridge (ENB 0.60%), and Enterprise Products Partners (EPD 0.78%). While they operate in sleepy sectors of the energy industry, they have ...

RELIABLE COMPANY INFORMATION RESILIENT READY. ck Hills Corporation Ready Forward-looking Statements P.O. Box 1400 Rapid City, SD 57709-1400 NYSE Ticker: BKH www.blackhillscorp.com The accuracy of our assumptions on which our earnings guidance and growth target are based; Company Contacts Our ability to complete our capital program in a cost-effective and timely manner; Our ability to execute on our strategy; Our ability to successfully execute our financing plans; Our ability to achieve our greenhouse gas e ...

Financial Data and Key Metrics Changes - The company reported earnings per share (EPS) of $0.67 for Q3 2023, up from $0.54 in the same period last year, driven by new rates, solid expense management, and higher-than-planned interest income [17][18] - The net debt to total capitalization improved by 300 basis points from 60.8% at year-end 2022 to 57.8% as of September 30, 2023 [22] - The company expects to deliver results at the top end of its 2023 earnings guidance range, with a long-term EPS growth target of 4% to 6% [14][54] Business Line Data and Key Metrics Changes - Electric utility margins improved primarily due to $0.18 per share from new rates and rider recovery, and $0.09 from transmission services and off-system energy sales [27] - Gas utilities benefited from $0.12 of new rates and rider recovery margin, and $0.04 from residential growth and usage, but faced challenges from weather impacts and changes in natural gas commodity contracts [20][21] Market Data and Key Metrics Changes - The company experienced a 10th consecutive year of new peak customer loads for its Wyoming Electric system, with a peak of 312 megawatts, reflecting a nearly 70% increase over the last decade [11] - The company is optimistic about growth in the Cheyenne region, particularly in data centers and blockchain industries [12][51] Company Strategy and Development Direction - The company is focused on three key objectives: delivering earnings in line with guidance, strengthening the balance sheet, and advancing regulatory plans and growth initiatives [9][10] - A five-year capital plan totaling $3.5 billion has been established, with ongoing updates expected in the Q4 earnings call [15][48] - The company is pursuing a strategic initiative to add 500 megawatts of renewable resources to its systems by 2030 [33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the top end of the earnings guidance for 2023, citing strong operational performance and effective cost management [54] - The company is aware of macroeconomic challenges, including rising interest rates and inflation, and has incorporated these factors into its growth projections [60][61] Other Important Information - The company has been recognized for its reliability, with all three electric utilities acknowledged as among the most reliable in the country [9] - Wildfire mitigation efforts are a priority, with a comprehensive approach to managing risks and ensuring system reliability [37][39] Q&A Session Summary Question: Can you discuss the 2024 outlook and confidence in growth? - Management reaffirmed a growth target of 4% to 6% based on 2023 guidance, considering macroeconomic challenges and capital growth opportunities [57][60] Question: What updates can be expected in Q4 regarding projects? - Management indicated that updates on various long-term initiatives, including the Clean Energy Plan and resource additions, will be provided in Q4 [63][66] Question: Are there any other rate cases planned for 2024? - Management confirmed ongoing rate reviews in Wyoming, Colorado, and Arkansas, with an expectation of filing about three rate reviews per year [79][81]