Black Hills Corp (NYSE:BKH) stock has reached a notable milestone, hitting a 52-week high of $62.2, signaling a period of robust performance for the energy company. This peak reflects a significant uptrend in the company's stock value, aligning with a substantial 1-year change of 26.39%. Investors have shown increased confidence in Black Hills Corp's market position and growth prospects, contributing to the stock's impressive climb over the past year. The achievement of this 52-week high marks a key moment for the company as it continues to navigate the dynamic energy sector.
In other recent news, Black Hills Corporation reported its Q3 2024 financial results, revealing a decrease in earnings per share (EPS) to $0.35 from $0.67 in the same quarter of the previous year. The company attributed this decline to higher operating costs and unplanned generation outages. Despite these challenges, Black Hills Corporation announced a year-to-date EPS increase of 4% to $0.57, supported by new margins from rate increases and customer growth. The company also emphasized its ongoing $800 million capital investment for 2024 and a five-year plan totaling $4.3 billion.
Black Hills Corporation anticipates 4% to 6% growth in earnings for the current year. The company also plans to maintain a BBB+ credit quality target and continue its dividend growth in line with earnings growth. A key future focus for the company is the data center and blockchain sectors, with data centers expected to contribute increasingly to EPS, rising from 5% to 10% by 2028.
The company also issued $109 million in new equity and reported high electric reliability with all three electric utilities in the top quartile for reliability. Regulatory approvals for solar projects and a natural gas generation project in South Dakota are also in progress. These recent developments underline Black Hills Corporation's commitment to operational excellence and growth.
InvestingPro Insights
Black Hills Corp's recent achievement of a 52-week high is further supported by several key financial metrics and trends identified by InvestingPro. The company's stock is currently trading near its 52-week high, with a price that is 99.71% of its peak, reinforcing the strong performance noted in the article. This aligns with the impressive 1-year price total return of 29.71%, slightly higher than the 26.39% change mentioned in the original text.
InvestingPro Tips highlight that Black Hills Corp has raised its dividend for 54 consecutive years, demonstrating a long-standing commitment to shareholder returns. This is particularly relevant given the company's current dividend yield of 4.28%, which may be attractive to income-focused investors. Additionally, the stock generally trades with low price volatility, which could be appealing to risk-averse investors looking for stability in the energy sector.
For those seeking a deeper understanding of Black Hills Corp's financial health and market position, InvestingPro offers 5 additional tips and a comprehensive set of real-time metrics. These insights can provide valuable context for investors evaluating the company's recent stock performance and long-term potential.
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