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BKBKH

Black Hills Corporation

$BKH·$5.7B·Diversified Utilities·Utilities
$74.61-1.6%YTD+7.7%1Y+30.8%
Mentions · last 7 days
2026-07-10: 3 posts2026-07-11: 1 posts2026-07-12: 0 posts2026-07-13: 2 posts2026-07-14: 0 posts2026-07-15: 1 posts2026-07-16: 1 posts8-30%
Price updated 4h ago·X counts updated 1d ago
BKBKH
$BKHBlack Hills Corporation
$74.61-1.58%8 posts-30%
AI analysisFundamentalsVoices on X
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AI verdict & sentimentAI analysisGenerated by AI from underlying data

Today's AI verdict on what's driving $BKH, plus how loud the X conversation is and which way it's leaning.

AI analysis

TickerTalks’ read on the fundamentals and what’s driving the move.

Proven numbersWinding up for a moveAI verdict · as of 2026-07-17

Trading in a tight range and building pressure — a move looks likely soon, but the direction isn't clear yet.

Regulated utility near 52-week highs on AI-power-bill tailwind; ATM shelf active and merger optionality flagged.

Black Hills Corporation is a diversified US utility — electric and natural-gas distribution across South Dakota, Wyoming, Montana, Nebraska, Iowa, Kansas, Colorado, and Arkansas.

  • Fundamentals are steady-state utility economics: Q1 2026 revenue $781M with a 26% operating margin and $1.74 EPS; the four-quarter revenue trend is mildly positive to flat.
  • Balance sheet: debt/equity 1.18 — normal for a rate-based utility.
  • Capital plan is active: on May 19 the company filed a 424B5 registering up to $183.4M of common stock remaining under an existing $400M ATM sales agreement with BofA, and a new S-3ASR to replace the expiring prior shelf — funding rate-based capex without headline dilution.
  • AI/data-center power context: Motley Fool (July 14) 'AI-Driven Rise in Power Bills Are Causing a $25B Problem for Utility Stocks' — regulated utilities are actively debating how to allocate the incremental hyperscaler load-served cost.
  • Strategic optionality: Seeking Alpha (June 22) 'Unlocking Growth Through A Merger' floats a specific merger thesis; not confirmed corporate action.
  • Sustainability: 2025 Corporate Sustainability Report published June 24.
  • Valuation: PE ~19, P/S ~2.4, FCF yield -5.6% (rate-base capex heavy) — standard regulated-utility multiples.
  • Price: $75.81 (+2.2% today); YTD +9%, twelve-month +33%; sits at 87% of the 52-week range.

Close: The coil is around the August 5 print and specifically the rate-case timing for data-center load-cost allocation. What breaks it upward: a favorable data-center-tariff ruling.

What to watch: August 5 Q2 earnings for rate-base growth and any data-center customer commentary; regulatory rulings on how AI-facility load costs get allocated; ATM utilization pace; any concrete merger disclosure.

On the calendar: 2026-08-05 — Q2 2026 earnings; consensus EPS $0.43

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What it does

Plain-English summary of the business — what they sell and how they make money.

Regulated electric and gas utility serving rural communities in Wyoming, South Dakota, and Colorado.

Industry overviewAI analysisGenerated by AI from underlying data

Where Diversified Utilities sits in its cycle right now — and what that implies for $BKH.

Diversified Utilities · Utilities

No material change from last week — the 127-gigawatt power demand problem makes regulated utility rate base expansion politically visible and M&A optionality more credible.

What this means for $BKH

Neutral — Regulated electric and gas utility serving rural communities in Wyoming, South Dakota, and Colorado; the 127-gigawatt AI power demand problem driving regulated rate base expansion does not materially affect this business's near-term earnings.

Top industry ETF

$XLUUtilities Select Sector SPDR
+5.3%YTD
+9.7%1Y

Fundamentals & catalyst

Profitability, valuation, and the next earnings event — at a glance, with rule-of-thumb signals.

Key ratios

P/E
19.0How much investors are paying per dollar of profit the company actually earned in the last 12 months. Lower means the stock looks cheaper relative to earnings.~15–25 is typical for the S&P 500; high-growth names trade 30+; hyper-growth or speculative can be 100+ or negative.
ROIC
4.5%What percentage return the business earns on every dollar of capital (equity + debt) deployed in operations. The cleanest measure of business quality.Above ~15% is high-quality; consistently above 25% suggests a real moat. Below the company's cost of capital is value-destroying.
Op margin
23.3%Operating profit (after sales, marketing, R&D, and overhead but before interest and taxes) as a percentage of revenue. The clearest view of how well the underlying business is run.Mature business above 20% is healthy; software businesses can run 30%+; commodity / retail businesses operate in single digits.
FCF yield
-5.6%Free cash flow (operating cash flow minus capex) divided by the company's market cap. The cash-on-cash return you'd get owning the whole business at today's price.Above ~5% is attractive; below ~2% means you're paying up for growth. Capital-light businesses (software) run higher than capital-heavy ones (utilities).
P/S
2.4Same idea as P/E but per dollar of revenue. Useful for companies that aren't profitable yet, where P/E is meaningless.Under ~2 is cheap; software / SaaS often runs 8–15; well above 20 implies the market is pricing in very high future growth.
ROE
7.6%Net income as a percentage of shareholders' equity. Similar to ROIC but counts only the equity side.Above 20% is strong, but can be inflated by leverage — a heavily indebted company can show high ROE with weak underlying ROIC.
Gross margin
35.7%Revenue minus the direct cost of producing what was sold, as a percentage of revenue. The first read on whether the product is structurally profitable.Software / SaaS is typically 70%+; consumer goods 30–50%; commodity / hardware businesses can be under 20%.
D/E
1.2Total debt divided by shareholders' equity. Measures how much the business runs on borrowed money versus owner capital.Under 1 is conservative; 1–2 is typical for mature businesses; over 2 is leveraged and more sensitive to interest rates.

Past earnings

QuarterReportedActualEstimateSurprise
Q1 2026May 6, 2026$1.79$1.88-4.8%
Q4 2025Feb 4, 2026$1.41$1.37+2.9%
Q3 2025Nov 5, 2025$0.45$0.450.0%
Q2 2025Jul 30, 2025$0.38$0.380.0%
Next earningsWed, Aug 5·consensus EPS $0.43

Quarterly trend

QuarterRevenueYoYGrossOpEPSFCF
Q1 FY26$780.7M-3.0%27.9%25.6%$1.74$-91.2M
Q4 FY25$635.5M+6.4%41.2%27.0%$1.40$-101.5M
Q3 FY25$430.2M+7.1%38.9%18.3%$0.34$-89.5M
Q2 FY25$439.0M+9.0%38.1%18.8%$0.38$-30.3M

Forward consensus

5-year forecast · up to 3 analysts
FYRevenueRangeEPSRangeAnalysts
FY26$2.4B$2.3B – $2.6B$4.34$3.57 – $4.352
FY27$2.9B$2.3B – $3.9B$4.61$4.58 – $4.653
FY28$3.2B$2.7B – $3.8B$4.96$4.82 – $5.092
FY29$3.3B$2.8B – $4.0B$5.30$4.36 – $6.731
FY30$3.4B$3.0B – $4.1B$5.62$4.63 – $7.141

Setup & momentum

Volume, range, and moving-average position — the technical setup driving short-term moves.

Right now

Vol vs 30dToday's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.0.8×Today's traded share volume divided by the average over the prior 30 trading days. ≥3× signals unusual interest; below 1× is quiet.
52w rangeWhere the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.82%Where the latest close sits between the 52-week low (0%) and high (100%). Above 80% is extended; below 30% is basing or in a downtrend.
vs 50d MALatest close vs the 50-day simple moving average. Positive = short-term trend is up.+1.4%Latest close vs the 50-day simple moving average. Positive = short-term trend is up.
vs 200d MALatest close vs the 200-day simple moving average. Positive = long-term trend is up.+4.9%Latest close vs the 200-day simple moving average. Positive = long-term trend is up.

Float & profile

FloatMid float · 75.7M shFree-float shares — the slice of issued stock actually available to trade. Lower buckets squeeze harder on a catalyst.Traded today1.2% of floatToday's volume as a percent of the free float. Above 5% on a single day is unusually high turnover for the available share count.β0.705-year weekly beta vs the S&P 500. Above 1.5 means the stock typically moves more than the index; below 0.8 moves less.FilingActive offeringA shelf registration (S-3 / S-3ASR / S-1) or prospectus supplement (424B*) was filed in the last 90 days — the company is registered to (or actively) issuing new shares. Dilution risk.

Insider activity

Recent open-market buys and sells by officers and directors — flagged when multiple insiders cluster.

Recent transactions

SellMay 27Robert P OttoDirector4.1K sh$305K
+ 29 other (18 awards · 10 inkinds · 1 gift) in window

See when $BKH insiders are putting their own money in

  • Real-time open-market buys and sells from Form 4 filings
  • Cluster-buy detection when multiple insiders pile in at once
  • 30 / 60 / 180-day windows so you can spot building conviction
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SEC filings

Material 8-K, 13D, S-3, and 424B5 events from the last 180 days — the filings that actually move the price.

Recent material filings

424B5Prospectus supplement (offering)May 19424B5
AI summary

Black Hills Corporation (BKH) filed a 424B5 prospectus supplement registering up to $183.4 million of common stock remaining under its existing $400 million at-the-market sales agreement with BofA Securities, BMO Capital Markets, Mizuho Securities USA, MUFG Securities Americas, and RBC Capital Markets as agents/forward sellers. The company had previously raised $216.6 million (3,517,790 shares) under the prior prospectus supplement; this new supplement supersedes it and is tied to a new S-3ASR shelf. Forward sale agreements may also be used. This is ongoing incremental dilution for a regulated utility to finance capital expenditures.

S-3ASRAuto-shelf registrationMay 19S-3ASR
AI summary

Black Hills Corporation (BKH) filed a new automatic shelf registration statement (S-3ASR) on May 19, 2026, effective immediately upon filing as a large accelerated filer, to replace its prior expiring shelf registration. This S-3ASR enables continued offering of securities under Rule 415 on a delayed or continuous basis and is the administrative prerequisite for the $183.4 million ATM offering capacity covered by the simultaneously filed 424B5 prospectus supplement. This is a routine shelf renewal rather than a new standalone offering.

8-KShareholder voteMay 18-K — Item 5.07: Shareholder vote
AI summary

BKH held its Annual Meeting of stockholders around 2026-05-01 (8-K Item 5.07). The meeting was adjourned, likely due to insufficient quorum. Routine governance event — monitor for unusually high withhold votes as an activist signal.

8-KShareholder voteApr 28-K — Item 5.07: Shareholder vote · Item 7.01: Press release / Reg FD
AI summary

BKH held its special meeting of stockholders around 2026-04-02 (8-K Item 5.07). The meeting was adjourned, likely due to insufficient quorum. Routine governance event — monitor for unusually high withhold votes as an activist signal.

+ 17 other (4 13Gs · 2 routine 8-Ks · 2 earnings 8-Ks · 2 425s) in window

Recent news

Latest headlines from major outlets, sourced and timestamped — context for whatever just moved.

The AI-Driven Rise in Power Bills Are Causing a $25 Billion Problem for Utility Stocksfool.com·4d agoBlack Hills Corp. Schedules 2026 Second-Quarter Earnings Release and Conference Callglobenewswire.com·9d agoDakota Gold Completes Pre-Feasibility Drilling and Releases Further Assay Results from the Richmond Hill Gold Projectnewsfilecorp.com·12d agoBlack Hills Corp. Releases 2025 Corporate Sustainability Report Highlighting Continued Progress on Goals and Customer-focused Solutionsglobenewswire.com·23d agoUnlocking Growth Through A Merger: Black Hills Corporationseekingalpha.com·26d ago

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