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BKH

Black Hills Corporation

BKH

NYSE·Utilities·Diversified Utilities·Mkt cap $5.6B

$73.58

▼ -0.08%

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Our plain-language verdict, the thesis, risk factors, and what is changing about the business.

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52-Week Range

$55.79 - $78.69

P/E

19.11

Fwd P/E

16.98

Beta

0.70

Div Yield

3.75%

Avg Vol

1.0M

Shares Out

76.1M

Mkt Cap

$5.6B

Price action

Price chart

Up 30.4% over the trailing year

1W
1M
3M
6M
YTD
1Y
5Y
MAX

Total returns

Price performance

Total return across standard periods - splits & dividends adjusted by FMP. Periods longer than 1Y show annualized in the tooltip.

Why we rate it this way

The thesis at a glance

Bull and bear case · plain-English context across the five lenses we evaluate.

▲

Bull Case

5 reasons

  • Regulated utility business model with stable, predictable cash flows and rate-base growth
  • Diversified geographic footprint across eight states reduces regulatory and weather-related risks
  • Integrated electric and gas operations create operational synergies and cross-selling opportunities
  • Owned generation assets and coal mine provide supply chain control and cost advantages
  • Extensive pipeline and transmission infrastructure creates high barriers to entry
▼

Bear Case

1 risk

  • Low volatility (beta 0.7).

Growth

Stable outlook

Population and economic growth in Mountain West and Great Plains service territories

Value

Fairly valued vs Multi-Utilities peers

Momentum

Stable

+4.0% over 3m

Quality

Stable

Strong fundamentals

Dividend

Solid

3.75% yield

Earnings track record

Recent earnings results

AI-summarized recap of last quarter, plus the surprise on every print.

Next: May 5, 2026

“
Q2 26 RECAP

MAY 6, 2026

Reported EPS of $1.79 vs $1.88 consensus (-4.8% surprise). Revenue of $780.7M vs $769.2M expected (+1.5%).

EPS miss
Rev beat +1.5%

EPS surprise · last 4Q

0 of 1 beats

Q2 26

-4.8%

Next: May 5, 2026

Revenue trend · last 8Q

—

—

+1%

+11%

+9%

+7%

+6%

-3%

Q2 24

Q3 24

Q4 24

Q1 25

Q2 25

Q3 25

Q4 25

Q1 26

$402.6M

$401.6M

$597.1M

$805.2M

$439.0M

$430.2M

$635.5M

$780.7M

Margins · last 8Q

Gross

—

Operating

—

Profit

16.8%

View full earnings history →

Wall Street consensus

2 analysts · 100% Buy

Live ratings and price targets aggregated across covering analysts.

Buy

2

100%

Hold

0%

Sell

0%

Median Price Target

$91.00

▲ +23.7% vs $73.58

Low $91.00
Median $91.00
High $91.00

Latest: Bank of America · Jun 11, 2026

1 analyst covering

View full analyst page →

vs Industry

How BKH stacks vs Diversified Utilities

Stock metrics vs industry averages. Green = better than industry.

Industry comparison data unavailable for this stock.