Intrinsic value of Black Hills - BKH

Previous Close

$53.46

  Intrinsic Value

$39.82

stock screener

  Rating & Target

sell

-26%

Previous close

$53.46

 
Intrinsic value

$39.82

 
Up/down potential

-26%

 
Rating

sell

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of BKH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Shares outstanding, mln

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  20.54
  2.40
  2.66
  2.89
  3.10
  3.29
  3.46
  3.62
  3.76
  3.88
  3.99
  4.09
  4.18
  4.27
  4.34
  4.41
  4.46
  4.52
  4.57
  4.61
  4.65
  4.68
  4.72
  4.74
  4.77
  4.79
  4.81
  4.83
  4.85
  4.86
  4.88
Revenue, $m
  0
  1,611
  1,654
  1,701
  1,754
  1,812
  1,875
  1,943
  2,016
  2,094
  2,177
  2,267
  2,361
  2,462
  2,569
  2,682
  2,802
  2,929
  3,062
  3,203
  3,352
  3,509
  3,675
  3,849
  4,033
  4,226
  4,429
  4,644
  4,869
  5,105
  5,355
Variable operating expenses, $m
 
  424
  432
  440
  450
  460
  472
  484
  498
  512
  527
  413
  431
  449
  469
  489
  511
  534
  559
  584
  612
  640
  670
  702
  736
  771
  808
  847
  888
  931
  977
Fixed operating expenses, $m
 
  980
  1,004
  1,030
  1,055
  1,082
  1,109
  1,136
  1,165
  1,194
  1,224
  1,254
  1,286
  1,318
  1,351
  1,385
  1,419
  1,455
  1,491
  1,528
  1,567
  1,606
  1,646
  1,687
  1,729
  1,772
  1,817
  1,862
  1,909
  1,956
  2,005
Total operating expenses, $m
  1,350
  1,404
  1,436
  1,470
  1,505
  1,542
  1,581
  1,620
  1,663
  1,706
  1,751
  1,667
  1,717
  1,767
  1,820
  1,874
  1,930
  1,989
  2,050
  2,112
  2,179
  2,246
  2,316
  2,389
  2,465
  2,543
  2,625
  2,709
  2,797
  2,887
  2,982
Operating income, $m
  223
  207
  218
  232
  249
  270
  294
  322
  353
  388
  427
  599
  645
  695
  750
  808
  872
  940
  1,013
  1,091
  1,174
  1,264
  1,359
  1,460
  1,568
  1,683
  1,805
  1,934
  2,072
  2,218
  2,372
EBITDA, $m
  412
  338
  349
  363
  380
  401
  425
  453
  484
  519
  558
  600
  646
  697
  751
  810
  873
  941
  1,014
  1,093
  1,176
  1,266
  1,361
  1,462
  1,570
  1,685
  1,807
  1,937
  2,075
  2,221
  2,376
Interest expense (income), $m
  113
  142
  147
  153
  159
  166
  174
  182
  191
  201
  212
  223
  235
  247
  261
  275
  290
  306
  323
  341
  360
  380
  401
  423
  446
  471
  496
  524
  552
  582
  614
Earnings before tax, $m
  93
  65
  71
  79
  90
  104
  120
  140
  162
  187
  215
  376
  410
  448
  489
  533
  581
  633
  690
  750
  814
  884
  958
  1,037
  1,122
  1,212
  1,308
  1,411
  1,520
  1,635
  1,758
Tax expense, $m
  10
  18
  19
  21
  24
  28
  32
  38
  44
  50
  58
  102
  111
  121
  132
  144
  157
  171
  186
  202
  220
  239
  259
  280
  303
  327
  353
  381
  410
  442
  475
Net income, $m
  73
  48
  52
  58
  66
  76
  88
  102
  118
  136
  157
  275
  300
  327
  357
  389
  424
  462
  503
  547
  595
  645
  699
  757
  819
  885
  955
  1,030
  1,109
  1,194
  1,284

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  14
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,515
  6,656
  6,833
  7,031
  7,249
  7,488
  7,747
  8,028
  8,329
  8,652
  8,998
  9,366
  9,758
  10,174
  10,616
  11,083
  11,578
  12,101
  12,654
  13,237
  13,853
  14,502
  15,185
  15,906
  16,664
  17,463
  18,304
  19,188
  20,118
  21,097
  22,126
Adjusted assets (=assets-cash), $m
  6,501
  6,656
  6,833
  7,031
  7,249
  7,488
  7,747
  8,028
  8,329
  8,652
  8,998
  9,366
  9,758
  10,174
  10,616
  11,083
  11,578
  12,101
  12,654
  13,237
  13,853
  14,502
  15,185
  15,906
  16,664
  17,463
  18,304
  19,188
  20,118
  21,097
  22,126
Revenue / Adjusted assets
  0.000
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
  0.242
Average production assets, $m
  6
  5
  5
  5
  5
  5
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  15
  16
Working capital, $m
  -61
  29
  30
  31
  32
  33
  34
  35
  36
  38
  39
  41
  43
  44
  46
  48
  50
  53
  55
  58
  60
  63
  66
  69
  73
  76
  80
  84
  88
  92
  96
Total debt, $m
  3,314
  3,419
  3,552
  3,701
  3,865
  4,045
  4,240
  4,451
  4,678
  4,921
  5,180
  5,457
  5,752
  6,065
  6,397
  6,749
  7,121
  7,514
  7,930
  8,368
  8,831
  9,319
  9,833
  10,375
  10,946
  11,546
  12,178
  12,843
  13,543
  14,279
  15,053
Total liabilities, $m
  4,901
  5,005
  5,138
  5,287
  5,451
  5,631
  5,826
  6,037
  6,264
  6,507
  6,766
  7,043
  7,338
  7,651
  7,983
  8,335
  8,707
  9,100
  9,516
  9,954
  10,417
  10,905
  11,419
  11,961
  12,532
  13,132
  13,764
  14,429
  15,129
  15,865
  16,639
Total equity, $m
  1,615
  1,651
  1,695
  1,744
  1,798
  1,857
  1,921
  1,991
  2,066
  2,146
  2,231
  2,323
  2,420
  2,523
  2,633
  2,749
  2,871
  3,001
  3,138
  3,283
  3,435
  3,596
  3,766
  3,945
  4,133
  4,331
  4,539
  4,759
  4,989
  5,232
  5,487
Total liabilities and equity, $m
  6,516
  6,656
  6,833
  7,031
  7,249
  7,488
  7,747
  8,028
  8,330
  8,653
  8,997
  9,366
  9,758
  10,174
  10,616
  11,084
  11,578
  12,101
  12,654
  13,237
  13,852
  14,501
  15,185
  15,906
  16,665
  17,463
  18,303
  19,188
  20,118
  21,097
  22,126
Debt-to-equity ratio
  2.052
  2.070
  2.100
  2.120
  2.150
  2.180
  2.210
  2.240
  2.260
  2.290
  2.320
  2.350
  2.380
  2.400
  2.430
  2.460
  2.480
  2.500
  2.530
  2.550
  2.570
  2.590
  2.610
  2.630
  2.650
  2.670
  2.680
  2.700
  2.710
  2.730
  2.740
Adjusted equity ratio
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248
  0.248

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  73
  48
  52
  58
  66
  76
  88
  102
  118
  136
  157
  275
  300
  327
  357
  389
  424
  462
  503
  547
  595
  645
  699
  757
  819
  885
  955
  1,030
  1,109
  1,194
  1,284
Depreciation, amort., depletion, $m
  189
  131
  131
  131
  131
  131
  131
  131
  131
  131
  131
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
Funds from operations, $m
  229
  178
  182
  189
  197
  207
  219
  233
  249
  268
  288
  276
  301
  328
  358
  391
  426
  464
  505
  549
  597
  647
  702
  759
  821
  887
  958
  1,033
  1,112
  1,197
  1,287
Change in working capital, $m
  -91
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
Cash from operations, $m
  320
  178
  182
  188
  196
  206
  218
  232
  248
  266
  287
  274
  299
  327
  356
  389
  424
  462
  503
  547
  594
  644
  699
  756
  818
  884
  954
  1,029
  1,108
  1,193
  1,282
Maintenance CAPEX, $m
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -3
  -3
New CAPEX, $m
  -475
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
Cash from investing activities, $m
  -1,589
  0
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -1
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -2
  -3
  -3
  -3
  -4
  -4
  -4
  -4
  -4
Free cash flow, $m
  -1,269
  177
  181
  187
  194
  204
  216
  230
  247
  265
  285
  273
  298
  325
  355
  387
  422
  460
  501
  544
  592
  642
  696
  754
  815
  881
  951
  1,025
  1,105
  1,189
  1,279
Issuance/(repayment) of debt, $m
  623
  119
  133
  149
  164
  180
  195
  211
  227
  243
  260
  277
  295
  313
  332
  352
  372
  393
  416
  439
  463
  488
  514
  542
  570
  601
  632
  665
  700
  736
  774
Issuance/(repurchase) of shares, $m
  122
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  929
  119
  133
  149
  164
  180
  195
  211
  227
  243
  260
  277
  295
  313
  332
  352
  372
  393
  416
  439
  463
  488
  514
  542
  570
  601
  632
  665
  700
  736
  774
Total cash flow (excl. dividends), $m
  -339
  297
  314
  335
  359
  384
  412
  441
  473
  508
  545
  550
  592
  638
  687
  739
  794
  853
  916
  983
  1,054
  1,130
  1,210
  1,295
  1,386
  1,481
  1,583
  1,691
  1,804
  1,925
  2,052
Retained Cash Flow (-), $m
  -149
  -36
  -44
  -49
  -54
  -59
  -64
  -70
  -75
  -80
  -86
  -91
  -97
  -103
  -109
  -116
  -123
  -130
  -137
  -145
  -153
  -161
  -170
  -179
  -188
  -198
  -208
  -219
  -231
  -243
  -255
Prev. year cash balance distribution, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  261
  270
  286
  305
  325
  347
  372
  399
  428
  459
  458
  495
  535
  577
  623
  671
  724
  779
  838
  902
  969
  1,041
  1,117
  1,198
  1,283
  1,375
  1,471
  1,574
  1,682
  1,797
Discount rate, %
 
  10.30
  10.82
  11.36
  11.92
  12.52
  13.15
  13.80
  14.49
  15.22
  15.98
  16.78
  17.62
  18.50
  19.42
  20.39
  21.41
  22.48
  23.61
  24.79
  26.03
  27.33
  28.70
  30.13
  31.64
  33.22
  34.88
  36.62
  38.45
  40.38
  42.40
PV of cash for distribution, $m
 
  237
  220
  207
  194
  180
  165
  150
  135
  120
  104
  83
  71
  59
  48
  38
  30
  23
  17
  12
  9
  6
  4
  3
  2
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Black Hills Corporation is a holding company. The Company is an integrated energy company, which is focused primarily on regulated utilities. The Company operates through segments, including Electric Utilities, Gas Utilities, Power Generation, Mining, Oil and Gas, and Corporate. As of December 31, 2016, the Electric Utilities segment generated, transmitted and distributed electricity to approximately 208,500 customers in South Dakota, Wyoming, Colorado and Montana. The Gas Utilities Segment includes the natural gas operations of Cheyenne Light. The Power Generation segment produces electric power from its generating plants and sells the electric capacity and energy principally to its utilities under long-term contracts. The Mining segment operates through its Wyodak Resources Development Corp. (WRDC) subsidiary. The Company's Oil and Gas segment acquires, explores for, develops and produces natural gas and crude oil in the United States primarily in the Rocky Mountain region.

FINANCIAL RATIOS  of  Black Hills (BKH)

Valuation Ratios
P/E Ratio 39.1
Price to Sales 1.8
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 8.9
Price to Free Cash Flow -18.4
Growth Rates
Sales Growth Rate 20.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.4%
Cap. Spend. - 3 Yr. Gr. Rate 6%
Financial Strength
Quick Ratio 0
Current Ratio 0.4
LT Debt to Equity 198.8%
Total Debt to Equity 205.2%
Interest Coverage 2
Management Effectiveness
Return On Assets 3.1%
Ret/ On Assets - 3 Yr. Avg. 2.6%
Return On Total Capital 1.8%
Ret/ On T. Cap. - 3 Yr. Avg. 1.8%
Return On Equity 4.7%
Return On Equity - 3 Yr. Avg. 4.1%
Asset Turnover 0.3
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 25.1%
EBITDA Margin - 3 Yr. Avg. 22.8%
Operating Margin 14.2%
Oper. Margin - 3 Yr. Avg. 11.7%
Pre-Tax Margin 5.9%
Pre-Tax Margin - 3 Yr. Avg. 5.3%
Net Profit Margin 4.6%
Net Profit Margin - 3 Yr. Avg. 3.9%
Effective Tax Rate 10.8%
Eff/ Tax Rate - 3 Yr. Avg. 28.4%
Payout Ratio 120.5%

BKH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BKH stock intrinsic value calculation we used $1573 million for the last fiscal year's total revenue generated by Black Hills. The default revenue input number comes from 2016 income statement of Black Hills. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BKH stock valuation model: a) initial revenue growth rate of 2.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 10.3%, whose default value for BKH is calculated based on our internal credit rating of Black Hills, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Black Hills.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BKH stock the variable cost ratio is equal to 26.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $956 million in the base year in the intrinsic value calculation for BKH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 4.3% for Black Hills.

Corporate tax rate of 27% is the nominal tax rate for Black Hills. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BKH stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BKH are equal to 0.3%.

Life of production assets of 4.4 years is the average useful life of capital assets used in Black Hills operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BKH is equal to 1.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1615 million for Black Hills - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 53.236 million for Black Hills is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Black Hills at the current share price and the inputted number of shares is $2.8 billion.

RELATED COMPANIES Price Int.Val. Rating
MDU MDU Resources 26.25 35.01  buy
NWE NorthWestern 53.87 44.01  sell
AVA Avista 51.64 22.82  str.sell
LNT Alliant Energy 40.06 14.50  str.sell
DUK Duke Energy 78.41 61.45  sell
XEL Xcel Energy 45.69 25.17  sell
SPKE Spark Energy 11.50 386.86  str.buy

COMPANY NEWS

▶ New Strong Sell Stocks for January 3rd   [Jan-03-18 05:01AM  Zacks]
▶ New Strong Sell Stocks for December 28th   [Dec-28-17 09:30AM  Zacks]
▶ Black Hills misses 3Q profit forecasts   [Nov-06-17 05:38AM  Associated Press]
▶ Black Hills Corp. Announces Analyst Day Presentation Topics   [Oct-04-17 04:31PM  GlobeNewswire]
▶ Four Utility Buys In A High-Priced Sector   [Sep-18-17 03:53PM  Forbes]
▶ ETFs with exposure to Black Hills Corp. : August 31, 2017   [Aug-31-17 05:31PM  Capital Cube]
▶ Black Hills posts 2Q profit   [Aug-05-17 01:10AM  Associated Press]
▶ Black Hills Corp. Reports Second Quarter 2017 Results   [Aug-03-17 04:15PM  GlobeNewswire]
▶ Black Hills Corp. Announces Quarterly Dividend   [Jul-26-17 05:32PM  GlobeNewswire]
▶ The Best Stock in South Dakota: Black Hills Corp.   [Jul-21-17 12:20PM  Kiplinger]
▶ ETFs with exposure to Black Hills Corp. : July 13, 2017   [Jul-13-17 03:39PM  Capital Cube]
▶ How Are ETF Inflows Affecting Small Cap Stocks?   [Jun-08-17 03:29PM  Barrons.com]
▶ ETFs with exposure to Black Hills Corp. : May 9, 2017   [May-09-17 04:22PM  Capital Cube]
▶ Black Hills posts 1Q profit   [May-04-17 05:02AM  Associated Press]
▶ Black Hills Corp. Reports First Quarter 2017 Results   [May-03-17 04:15PM  GlobeNewswire]
▶ Kansas City Southern: Coal Led the Pack in Week 16   [May-01-17 07:40AM  Market Realist]
▶ Kansas City Southern: Coal Growth Story Is Intact in Week 15   [Apr-21-17 02:35PM  Market Realist]
▶ Kansas City Southern: Coal Pushed Volumes Up in Week 14   [Apr-18-17 05:35PM  Market Realist]
▶ A Revival In The Rockies For Natural Gas   [Feb-15-17 11:12AM  at Forbes]
▶ Hickenlooper's picks for Colorado PUC sail through Senate confirmation   [05:11PM  American City Business Journals]
▶ Black Hills beats 4Q profit forecasts   [Feb-01-17 06:22PM  Associated Press]
▶ Is Black Hills Corp (BKH) Going to Burn Investors?   [Dec-08-16 03:00PM  at Insider Monkey]
▶ Chairman of Colorado Public Utilities Commission to resign   [Dec-06-16 03:40PM  at bizjournals.com]
Financial statements of BKH
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.