EUR/USD likely to find a peak near 1.25: UBS
Black Hills Corporation (NYSE:BKH), a $4.29 billion energy company based in South Dakota with a "GOOD" InvestingPro financial health rating, disclosed in a recent SEC filing that Mr. Erik Keller, Senior Vice President and Chief Information Officer, will resign from his position effective February 28, 2025.
The announcement was made on January 31, 2025, and was formally filed with the Securities and Exchange Commission on February 7, 2025.
The corporation has not yet named a successor for Mr. Keller. His departure comes after a tenure in which he oversaw the company’s information technology strategy and operations. The reasons for Mr. Keller’s resignation were not disclosed in the filing.
Black Hills Corporation, operating in the electric services industry, is headquartered in Rapid City, South Dakota, and is listed on the New York Stock Exchange. The company has maintained dividend payments for 55 consecutive years, with a current yield of 4.51%. Trading near its Fair Value according to InvestingPro analysis, the company has a history dating back to its former name, Black Hills Holding Corp, which was changed in December 2000.
As per standard procedure, the company has fulfilled its regulatory requirements by reporting the executive change to the SEC. This filing ensures transparency with shareholders and the public regarding significant corporate governance matters.
The company’s stock will continue to trade under the ticker symbol BKH on the New York Stock Exchange, having delivered a 26.39% total return over the past year. Investors and stakeholders are awaiting further announcements from Black Hills Corporation regarding the transition plan and appointment of a new Chief Information Officer.
For deeper insights into how executive changes impact company performance, access the comprehensive Pro Research Report available on InvestingPro, covering 1,400+ top US stocks.
The information regarding this executive change is based on the company’s statement in the SEC filing.
In other recent news, Black Hills Corp has seen a mix of financial developments. The company reported a decrease in its third-quarter 2024 earnings per share (EPS) to $0.35, down from $0.67 in the same period last year, due to higher operating expenses and unplanned generation outages. Despite this, year-to-date EPS has seen a 4% increase to $0.57, supported by new margins from rate increases and customer growth.
Moreover, Black Hills Corp has also declared an increase in its quarterly dividend to $0.676 per share, marking the 55th consecutive year of annual dividend increases. This move underlines the company’s confidence in its growth potential and strategic direction.
On the analyst front, Mizuho (NYSE:MFG) Securities has maintained a neutral rating on Black Hills Corp, while raising the stock’s price target to $64 from the previous $61. The firm cited consistent growth and successful regulatory strategies as key factors in their decision.
Additionally, Black Hills Corp is making strides in its regulatory dealings and growth strategies, with settlements reached in its Arkansas Gas and Iowa Gas rate cases, and plans for a new 100MW gas generation plant in South Dakota.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.