Core Viewpoint - Black Hills Corporation (NYSE:BKH) is recognized as a strong value-oriented dividend stock, appealing to long-term investors due to its consistent dividend growth and robust customer base expansion [1][3][4]. Company Overview - Black Hills Corporation is a diversified energy company providing electric and gas utility services across multiple states including South Dakota, Montana, Wyoming, Colorado, Arkansas, Kansas, Nebraska, and Iowa, while also selling power throughout the western states [2]. Dividend Performance - The company is classified as a Dividend King, boasting 55 years of consecutive dividend growth. It currently offers a quarterly dividend of $0.676 per share, resulting in a dividend yield of 4.44% as of September 26 [3]. Growth Potential - Black Hills Corporation has been expanding its customer base at nearly three times the rate of overall U.S. population growth, which enhances its position for regulatory approvals on future investments and rate adjustments. The company aims for long-term annual earnings growth of 4% to 6%, with dividend increases expected to align with this growth trajectory [4].

Group 1: New CHRO Appointments - Kimberly-Clark appointed Stacey Valy Panayiotou as CHRO, emphasizing her commitment to high-performing and caring cultures [2] - Uno Minda welcomed Garima Garg as CHRO, highlighting her experience in HR and her goal to enhance the company's cultural DNA for growth [3] - Consumers Energy named Shannon Thomas as SVP and CPO, with a focus on aligning people strategy with long-term company priorities [4] - Hero Motocorp announced Madhuri Mehta as CHRO, recognizing her leadership experience and role in fostering an empowering workplace culture [5] - Equity Prime Mortgage appointed Anjanette Valenta as chief people officer, noting her transformational impact since joining [6]

Core Insights - The article focuses on DTE Energy Company's Series H 6.25% Junior debt issue, highlighting its significance in the fixed-income market [1]. Group 1 - DTE Energy Company is listed on the NYSE under the ticker DTE [1]. - The Series H Junior debt issue offers a fixed interest rate of 6.25% [1].

Group 1 - The article focuses on DTE Energy Company's Series H 6.25% Junior debt issue, highlighting its significance in the fixed-income market [1] - It invites active investors to join a free trial and engage in discussions about investment ideas in a chat room with experienced traders [1] Group 2 - The article does not provide specific investment recommendations or advice, emphasizing that past performance does not guarantee future results [2] - It clarifies that the views expressed may not reflect those of Seeking Alpha as a whole, and the analysts involved may not be licensed or certified [2]

Group 1 - Artisan Partners' "Artisan Select Equity Fund" reported returns of 6.77%, 6.76%, and 6.80% for its Investor Class, Advisor Class, and Institutional Class respectively in Q2 2025, underperforming the S&P 500 Index which returned 10.94% [1] - The fund highlighted Berkshire Hathaway Inc. as a key stock, which had a one-month return of -0.59% and an annual gain of 8.64%, with a closing stock price of $500.03 and a market capitalization of $1.079 trillion as of September 18, 2025 [2] - Berkshire Hathaway's share price declined by 9% in Q2 2025, attributed to Warren Buffett's announcement of his CEO transition to Greg Abel, indicating a shift in focus from capital allocation to operational performance under Abel's leadership [3]

Market Performance - French stocks are exhibiting a mixed performance with the benchmark CAC 40 showing a slight increase of 2.89 points or 0.04% to 7,873.57, fluctuating between 7,872.29 and 7,901.23 [1] - Investors are cautious due to a lack of market triggers and are looking forward to important economic data later in the week [1] Sector Performance - Luxury stocks are experiencing some support, with companies like Kering, STMicroElectronics, EssilorLuxottica, Hermes International, Eurofins Scientific, Stellantis, and LVMH gaining between 1.1% and 1.8% [1] - Other companies such as Thales, Bureau Veritas, Accor, Unibail Rodamco, Dassault Systemes, Capgemini, and Airbus are also seeing gains, ranging from 0.3% to 0.7% [2] Declining Stocks - TotalEnergies is down approximately 1.25%, while Veolia Environment, Engie, Societe Generale, Orange, Sanofi, Michelin, and Euronext are declining between 0.5% and 1% [3] Economic Indicators - The economic sentiment indicator in the Euro Area increased to 95.5 in September from a revised 95.3 in August, slightly surpassing market expectations of 95.2 [3] - Euro Area consumer confidence improved to -14.9 in September from -15.5 in August, aligning with preliminary estimates [3]

Group 1: AI Investment Opportunity - Artificial intelligence is considered the greatest investment opportunity of our lifetime, with a strong emphasis on the urgency to invest now [1] - Wall Street is investing hundreds of billions into AI technologies, but there is a critical question regarding the energy supply needed to support this growth [2] - AI technologies, particularly data centers for large language models, consume vast amounts of energy, comparable to that of small cities, leading to concerns about power grid strain and rising electricity prices [2] Group 2: Company Overview - A specific company, largely overlooked by AI investors, is positioned to benefit from the increasing demand for energy due to AI data centers, owning critical energy infrastructure assets [3][6] - This company is involved in the U.S. LNG exportation sector, which is expected to grow significantly under the current administration's energy policies [7] - The company is debt-free and has a substantial cash reserve, amounting to nearly one-third of its market cap, making it financially robust compared to other firms in the energy sector [8] Group 3: Market Position and Valuation - The company is trading at less than 7 times earnings, excluding cash and investments, indicating it is undervalued relative to its potential [10] - It also holds a significant equity stake in another AI-related company, providing investors with indirect exposure to multiple growth opportunities in the AI sector [9] - The company is recognized for its ability to execute large-scale engineering, procurement, and construction projects across various energy sectors, enhancing its market position [7] Group 4: Future Outlook - The future of energy is closely tied to AI advancements, with a focus on the need for infrastructure to support this growth [6][14] - The influx of talent into the AI field is expected to drive rapid advancements and innovative ideas, reinforcing the importance of investing in AI [12] - The overall sentiment is that investing in AI and related energy infrastructure is not just about financial returns but also about participating in a transformative technological revolution [15]

Group 1 - The analyst has over 10 years of experience researching more than 1000 companies across various sectors including commodities and technology [1] - The focus has shifted from a personal blog to a value investing-oriented YouTube channel, emphasizing research on hundreds of companies [1] - The analyst expresses a particular interest in metals and mining stocks, while also being knowledgeable in consumer discretionary, staples, REITs, and utilities [1]

Investment Rating - The industry view is rated as Attractive [7] Core Insights - The MS Capex Tracker indicates that US next twelve months (NTM) capital expenditure intentions have accelerated to +20% through Q3, up from +10% at the start of the year, primarily driven by Data Center investments [3][4] - The report highlights a significant positive rate of change in capital expenditure, particularly from US Hyperscalers, which aligns with the "Data Center vs Everything Else" theme [3] - There is potential for manufacturing capital expenditure to increase further into 2026 due to improved tariff policies, supporting the $10 trillion reshoring thesis [3][4] - The report identifies key companies well-positioned for growth, including Trane Technologies (TT), Eaton Corporation (ETN), Johnson Controls International (JCI), Vertiv Holdings (VRT), Rockwell Automation (ROK), and Acuity Inc. (AYI) [3] Summary by Relevant Categories Capital Expenditure Trends - NTM capital expenditure leaders include Hyperscalers (+78%), Tech Hardware (+20%), Utilities (+18%), and Aerospace (+12%) [9] - Laggards in capital expenditure include IT (-14%), Chemicals (-9%), Automotive (-7%), Food & Beverage (-6%), Semiconductors (-4%), and Energy (-3%) [9] Rate of Change in Capital Expenditure - The rate of change for NTM capital expenditure shows leaders such as Hyperscalers (+38%) and Tech Hardware (+20%), while laggards include Chemicals (-16%) and IT (-16%) [12]

Core Viewpoint - The article emphasizes a fundamentals-based approach to value investing, highlighting the importance of long-term growth and a strong balance sheet over low multiple stocks [1]. Group 1: Investment Philosophy - The company believes that not all low multiple stocks are cheap, and it seeks firms that provide long-term durability at reasonable prices [1]. - There is a focus on companies with steady long-term growth, minimal cyclicality, and robust financial health [1]. - The article acknowledges the risks associated with investing in successful companies, particularly the potential to overpay, underscoring the significance of valuation [1]. Group 2: Market Outlook - The company remains bullish on Iberdrola, S.A., citing a de-risked capital expenditure plan as a key factor for earnings growth [1]. - The development runway for certain companies is considered vast enough that immediate price concerns may be less critical [1].