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    Black Hills Corporation (BKH)

    Official site

    UTILITIES • UTILITIES - REGULATED GAS • NYSE

    $75.87
    -0.56 (-0.73%)

    Market Cap: $5.84B

    Last updated: Oct 16, 2026 at 5:00 PM ET

    Earnings

    Performance (10Y)

    Beat Rate
    59%(23/39)
    Avg Surprise
    +0.71%
    Streak
    1 Q

    Upcoming Estimates

    Period ending Sep 30, 2026
    EPS Consensus$0.46
    Range$0.42 - $0.52
    3 analysts
    EPS RevisionsNo revisions (7d)
    0
    1
    30d
    EPS Estimate DriftChange to current
    90d ago$0.62-26.7%
    60d ago$0.50-9.3%
    30d ago$0.50-9.3%
    7d ago$0.50-9.3%
    Current$0.46
    Revenue Consensus
    $482M
    Range$461M - $503M
    2 analysts
    Period ending Dec 31, 2026
    EPS Consensus$1.65
    Range$1.64 - $1.71
    5 analysts
    Revenue Consensus
    $560M
    Range$441M - $773M
    4 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$1.65---
    Sep 26EST
    		-$0.46---
    Jun 26
    Reported Aug 5
    		$0.54$0.42+28.57%Beat+42.1%
    Mar 26
    Reported May 6
    		$1.79$1.84-2.72%Miss-4.3%
    Dec 25
    Reported Feb 4
    		$1.41$1.41+0.00%Beat+2.9%
    Sep 25
    Reported Nov 5
    		$0.45$0.45+0.00%Beat+28.6%
    Jun 25
    Reported Jul 30
    		$0.38$0.36+5.56%Beat+15.2%
    Mar 25
    Reported May 7
    		$1.87$1.93-3.11%Miss+0.0%
    Dec 24
    Reported Feb 5
    		$1.37$1.34+2.24%Beat+17.1%
    Sep 24
    Reported Nov 6
    		$0.35$0.47-25.53%Miss-47.8%
    Jun 24
    Reported Jul 31
    		$0.33$0.32+3.13%Beat-5.7%
    Mar 24
    Reported May 8
    		$1.87$1.72+8.72%Beat+8.1%
    Dec 23
    Reported Feb 7
    		$1.17$1.10+6.36%Beat+5.4%
    Sep 23
    Reported Nov 1
    		$0.67$0.51+31.37%Beat+24.1%
    Jun 23
    Reported Aug 2
    		$0.35$0.39-10.26%Miss-32.7%
    Mar 23
    Reported May 3
    		$1.73$1.67+3.59%Beat-4.9%
    Dec 22
    Reported Feb 7
    		$1.11$1.17-5.13%Miss+0.0%
    Sep 22
    Reported Nov 2
    		$0.54$0.58-6.90%Miss-22.9%
    Jun 22
    Reported Aug 3
    		$0.52$0.40+30.00%Beat+30.0%
    Mar 22
    Reported May 4
    		$1.82$1.66+9.64%Beat+18.2%
    Dec 21
    Reported Feb 9
    		$1.11$1.30-14.62%Miss-9.8%
    Sep 21
    Reported Nov 2
    		$0.70$0.64+9.38%Beat+20.7%
    Jun 21
    Reported Aug 3
    		$0.40$0.39+2.56%Beat+21.2%
    Mar 21
    Reported May 4
    		$1.54$1.66-7.23%Miss-3.1%
    Dec 20
    Reported Feb 9
    		$1.23$1.15+6.96%Beat+8.8%
    Sep 20
    Reported Nov 2
    		$0.58$0.52+11.54%Beat+31.8%
    Jun 20
    Reported Aug 3
    		$0.33$0.32+3.13%Beat+37.5%
    Mar 20
    Reported May 4
    		$1.59$1.63-2.45%Miss-8.1%
    Dec 19
    Reported Feb 6
    		$1.13$1.09+3.67%Beat+7.6%
    Sep 19
    Reported Nov 4
    		$0.44$0.45-2.22%Miss+4.8%
    Jun 19
    Reported Aug 5
    		$0.24$0.43-44.19%Miss-46.7%
    Mar 19
    Reported May 2
    		$1.73$1.57+10.19%Beat+6.1%
    Dec 18
    Reported Feb 7
    		$1.05$0.92+14.13%Beat+7.1%
    Sep 18
    Reported Nov 5
    		$0.42$0.50-16.00%Miss-16.0%
    Jun 18
    Reported Aug 6
    		$0.45$0.42+7.14%Beat+9.8%
    Mar 18
    Reported May 3
    		$1.63$1.53+6.54%Beat+15.6%
    Dec 17
    Reported Feb 1
    		$0.98$1.03-4.85%Miss-8.4%
    Sep 17
    Reported Nov 2
    		$0.50$0.55-9.09%Miss-
    Jun 17
    Reported Aug 3
    		$0.41$0.50-18.00%Miss-
    Mar 17
    Reported May 3
    		$1.41$1.40+0.71%Beat-
    Dec 16
    Reported Feb 1
    		$1.07$1.13-5.31%Miss-

    Dividends

    Dividend Metrics

    Forward Yield3.71%
    Forward Annual Dividend$2.81
    Payout Ratio33.64%
    FrequencyQuarterly
    Pay MonthsMar, Jun, Sep, Dec

    Growth

    3Y CAGR+3.91%
    5Y CAGR+4.50%
    BKH dividend history and ex-dividend datesRun BKH in the free DRIP calculator

    Key Metrics

    Valuation
    P/E Ratio18.11EV/EBITDA11.83x
    Price/FCF-18.87xFCF Yield-5.30%
    Profitability
    Profit Margin13.00%Operating Margin21.40%
    ROE7.96%ROIC5.76%
    Financial Health
    Debt/Equity1.14xInterest Coverage2.63x
    Current Ratio0.52xQuick Ratio0.41x
    Trading Statistics
    Beta0.66Avg Volume1.41M
    52-Week High$78.0052-Week Low$59.93

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$74.65
    SMA 20$72.59
    SMA 50$72.57
    SMA 200$72.11
    EMA 10$74.93
    EMA 20$73.66
    EMA 50$72.83
    EMA 200$71.05

    MACD

    Line: 1.26Signal: 0.64Hist: 0.63

    ADX

    ADX: 22.3+DI: 29.8-DI: 13.3

    Aroon & PSAR

    Aroon Up100.0
    Aroon Down48.0
    PSAR$70.01

    Bollinger Bands

    Upper Band$78.34
    Lower Band$66.84
    %B Position1585%(Upper)
    Band Width0.79

    RSI (14-Day)

    Neutral
    62.2

    Momentum Oscillators

    Stoch %K85.9
    Stoch %D86.6
    Williams %R-20.4
    ROC (10d)8.2%
    Momentum5.73
    CCI (20d)100.9
    MFI (14d)53.2

    Volatility Measures

    ATR (14d)$1.98(2.6%)
    StdDev (20d)2.88
    Hist Vol30.1%(Moderate)

    Volume Flow

    VWAP$76.42
    OBV34.3M
    AD Line-431.4M
    CMF (20d)-0.009

    Volume Metrics

    Avg Vol (20d)1.5M
    Vol Ratio0.9x
    VWMA (20d)$73.19

    Pivot Points

    R3$79.34
    R2$78.41
    R1$77.42
    Pivot Point$76.48
    S1$75.50
    S2$74.56
    S3$73.57

    Advanced Oscillators

    TSI22.14
    Ultimate Osc62.4
    KST29.66

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$452.80M$780.70M$635.60M$430.20M$439.00M$805.20M$597.10M$401.60M$402.60M$726.40M$591.70M$407.10M
    Cost of Revenue$113.50M$337.90M$235.80M$112.00M$124.00M$359.70M$212.10M$94.50M$107.10M$316.60M$233.10M$102.20M
    Gross Profit$339.30M$442.80M$399.80M$318.20M$315.00M$445.50M$385.00M$307.10M$295.50M$409.80M$358.60M$304.90M
    Operating Expenses$242.30M$240.90M$228.50M$239.50M$232.50M$240.50M$221.60M$231.30M$224.90M$216.50M$222.10M$207.10M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$0$0$0$0$0$0$0$0$0$0$0$0
    Operating Income$97.00M$201.90M$171.30M$78.70M$82.50M$205.00M$163.40M$75.80M$70.60M$193.30M$136.50M$97.80M
    Interest Income$1.10M$1.20M$4.30M$1.20M$900,000$400,000$500,000$5.40M$5.60M$2.00M$6.20M$3.50M
    Interest Expense$52.70M$53.10M$54.80M$50.60M$49.80M$51.70M$50.40M$50.60M$48.20M$46.00M$48.10M$44.50M
    Income Before Tax$45.60M$150.70M$125.90M$29.90M$33.20M$154.50M$113.80M$29.30M$28.40M$148.50M$92.80M$56.20M
    Income Tax Expense$5.20M$17.60M$17.20M$4.00M$4.40M$18.10M$12.80M$2.90M$3.70M$16.90M$9.60M$7.40M
    Net Income$40.40M$133.10M$108.70M$25.90M$28.80M$136.40M$101.00M$26.40M$24.70M$131.60M$83.20M$48.80M
    EBITDA$175.00M$279.90M$252.20M$153.70M$153.80M$277.40M$234.50M$146.50M$140.40M$261.10M$203.50M$164.00M
    EBIT$97.20M$202.60M$176.40M$79.30M$82.10M$205.80M$163.70M$74.50M$71.00M$192.50M$134.70M$97.20M
    * Some calculated fields are derived from available data when not provided by source

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    Government Contracts

    Gov Obligations (TTM)
    $48.02M
    Gov Obligations / Revenue
    2.1%
    Obligations YoY
    598.8%
    Active Awards
    27
    New Awards (TTM)
    14
    Avg Remaining Term
    39.9 mo

    Top agency: Department of Veterans Affairs at 95.3% of trailing twelve month obligations across 4 agencies

    Recent Awards

    Award IDAgencyObligatedStart
    15B40626F00000013Department of JusticeFederal Prison System / Bureau of Prisons$212021Oct 1, 2025
    15B40625F00000270Department of JusticeFederal Prison System / Bureau of Prisons$207794Sep 1, 2025
    15B40626F00000182Department of JusticeFederal Prison System / Bureau of Prisons$205155May 1, 2026
    15B40626F00000022Department of JusticeFederal Prison System / Bureau of Prisons$204753Nov 1, 2025
    15B40626F00000051Department of JusticeFederal Prison System / Bureau of Prisons$187514Dec 1, 2025
    15B40626F00000052Department of JusticeFederal Prison System / Bureau of Prisons$187191Jan 1, 2026
    15B40626F00000103Department of JusticeFederal Prison System / Bureau of Prisons$180743Mar 1, 2026
    15B40626F00000143Department of JusticeFederal Prison System / Bureau of Prisons$176536Apr 1, 2026
    15B40626F00000099Department of JusticeFederal Prison System / Bureau of Prisons$170465Feb 1, 2026
    15B40626F00000187Department of JusticeFederal Prison System / Bureau of Prisons$63485Jun 1, 2026

    Federal contract obligations are bookings recorded by the awarding agency, not recognized revenue. They can exceed 100% of revenue and can be negative when contracts are de-obligated. Source: USAspending.gov prime awards, data through Jul 31, 2026.

    News

    Jefferies sets USD 87.00 target for Black Hills stock

    Jefferies has initiated coverage of Black Hills Corporation (BKH) with a "Buy" rating and a price target of USD 87.00...

    ad-hoc-news.de•10/15/26•Somewhat-Bullish

    Black Hills (NYSE:BKH) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

    Black Hills Corporation (NYSE:BKH) saw its share price move above its 200-day moving average, closing at $76.35 after reaching a high of $77.48. This positive movement is supported by broadly positive analyst sentiment...

    MarketBeat•10/15/26•Bullish

    Veterans Memorial Hospital Foundation receives $25,000 grant from Black Hills Energy Corporation Foundation for new Postville Clinic | The Standard Newspaper

    The Veterans Memorial Hospital (VMH) Postville Clinic received a $25,000 grant from the Black Hills Energy Corporation Foundation to aid in the expansion and equipment upgrades of its new facility. The clinic celebrated...

    Waukon Standard•10/14/26•Bullish

    Arkansas approves new gas rates for Black Hills Corp, adding $17.9M in annual revenue.

    The Arkansas Public Service Commission has approved new rates for Black Hills Corp's natural gas utility, effective October 12, 2026. These rates will generate an additional $17.9 million in annual revenue...

    Pluang•10/13/26•Bullish

    Black Hills Corp. gets Arkansas rate approval worth $17.9M annually

    Black Hills Corp. (NYSE: BKH) announced that its natural gas utility subsidiary in Arkansas received approval for new rates, effective Oct. 12...

    StreetInsider•10/13/26•Bullish

    BKH Valuation and Fair Value

    P/E
    18.1x
    Forward P/E
    15.0x
    EV/EBITDA
    11.8x
    P/FCF
    -18.9x
    PEG
    2.5x
    P/B
    1.5x
    See GNG's fair value

    BKH Profitability: Margins, ROIC and FCF

    Gross margin
    65.2%
    Operating margin
    21.4%
    Net margin
    13.0%
    ROIC
    5.8%
    ROE
    8.0%
    FCF margin
    -13.3%
    FCF yield
    -5.3%

    BKH Competitors

    CompanyTicker
    Enel Chile SA ADRENIC
    Ormat Technologies IncORA
    Southwest Gas Holdings IncSWX
    Brookfield Renewable CorpBEPC
    TXNM Energy, Inc.TXNM
    NewJersey Resources CorporationNJR
    Clearway Energy Inc Class CCWEN
    Oklo Inc.OKLO

    Sector: Utilities

    BKH Analyst Ratings

    Consensus
    Buy
    Analysts
    6
    Strong Buy
    1
    Buy
    4
    Hold
    1
    Sell
    0
    Strong Sell
    0

    BKH Bull Case vs Bear Case

    Bull case

    • 83.3% of BKH's analyst ratings are Buy or Strong Buy.

    Bear case

    • BKH beat EPS estimates in 37.5% of its last 8 reported quarters.

    BKH Earnings: Beat Rate and Next Report

    Beat rate
    3 of 8 quarters (37.5%)
    Average surprise
    0.6%
    EPS estimate (fiscal period ending Sep 30, 2026)
    $0.46
    Estimate revisions (30 days, fiscal period ending Sep 30, 2026)
    0 up, 1 down

    BKH Dividend

    Forward yield
    3.7%
    Payout ratio
    33.6%
    3Y DPS growth
    3.9%
    5Y DPS growth
    4.5%
    Pay months
    Mar, Jun, Sep, Dec
    BKH dividend history

    Frequently Asked Questions About BKH

    What is BKH's current dividend yield?

    Black Hills Corporation (BKH) has a forward dividend yield of 3.71%.

    Does BKH pay dividends?

    Yes, Black Hills Corporation pays dividends with a forward dividend yield of 3.71%.

    What is BKH's P/E ratio?

    Black Hills Corporation has a price-to-earnings (P/E) ratio of 18.11.

    What is BKH's market cap?

    Black Hills Corporation (BKH) has a market capitalization of $5.84B with a current stock price of $75.87.

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