News Spotlight: Black Hills Corp. (NYSE: BKH)

Robert Cieslak

Black Hills Corp. (NYSE: BKH) stock identified change of 41.58% away from 52-week low price and recently located move of -2.59% off 52-week high price. It has market worth of $4799.19M and dividend yield of 2.53%. BKH stock has been recorded 4.05% away from 50 day moving average and 16.10% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.44% off 20-day moving average.

Black Hills Corp. (NYSE: BKH) announced that its South Dakota Electric and Wyoming Electric subsidiaries, doing business as Black Hills Energy, received approvals from the South Dakota Public Utilities Commission and Wyoming Public Service Commission for new, voluntary renewable energy tariffs. In addition, the Wyoming commission also approved a joint application by the two electric utilities for a Certificate of Public Convenience and Necessity to build a $57 million, 40-megawatt wind generation project.

The Renewable Ready Service Tariffs will provide large commercial and industrial customers and governmental agencies in South Dakota and Wyoming a cost-effective option to purchase utility-scale renewable energy from Black Hills Energy for up to 100 percent of their electric energy needs.

The $57 million project, known as the Corriedale Wind Energy Project, will be jointly owned by the South Dakota and Wyoming electric utilities. The wind facility will provide renewable energy to meet commitments under the Renewable Ready tariffs. Black Hills Energy will conduct an open period for subscribers to the Renewable Ready program later this year and, based upon early indications of interest from customers, expects to fully subscribe the 40 megawatts of capacity of the Corriedale Wind Energy Project. The wind facility will be located near Cheyenne, Wyoming, and is expected to be constructed and placed in service in late 2020.

“We are pleased to receive approval to deliver new renewable energy solutions for our customers,” said Linden “Linn” R. Evans, president and CEO of Black Hills Corp. “The Renewable Ready program provides our customers an excellent choice for the long-term delivery of cost-effective, utility-scale renewable energy. The new Renewable Ready program is another example of how Black Hills Energy is developing creative and innovative solutions in response to evolving customer needs, particularly around cleaner and more sustainable energy requirements.”

 The Utilities sector company, Black Hills Corporation noticed change of 0.59% to $79.88 along volume of 262351 shares in recent session compared to an average volume of 352.37K. The stock observed return of 2.33% in 5 days trading activity. The stock was at 3.19% over one month performance. BKH’s shares are at 9.95% for the quarter and driving a 24.87% return over the course of the past year and is now at 27.24% since this point in 2018.  The average volatility for the week at 1.37% and for month was at 1.71%. There are 60.08M shares outstanding and 59.91M shares are floated in market. Right now the stock beta is 0.34. 

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