Black Hills Stock (NYSE:BKH), Trade Ideas

Black Hills

Black Hills Corp is a U.S.-based energy company that operates through its Electric Utilities, Gas Utilities, Corporate and Other segments. These segments operate in states in the Midwest and mountain regions in the U.S. The company's customers include residential, commercial, industrial, and municipal consumers. These customers are residential. Black Hills derives the majority of its revenue from its utility business group, specifically from electric utilities.

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Black Hills Corp

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Guidance

Black Hills Reaffirms 2024 EPS $3.80-$4.00 Vs $3.90 Est.

Scotiabank analyst Andrew Weisel maintains Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) with a Sector Perform and raises the price target from $57 to $58.

Price Target

Analyst Ratings

Scotiabank Maintains Sector Perform on Black Hills, Raises Price Target to $58

RBC Capital analyst Shelby Tucker maintains Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) with a Sector Perform and lowers the price target from $61 to $57.

RBC Capital Maintains Sector Perform on Black Hills, Lowers Price Target to $57

Black Hills Sees FY24 EPS $3.80-$4.00

Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) reported its Q4 earnings results on Wednesday, February 7, 2024 at 04:15 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
Black Hills beat estimated earnings by 8.33%, reporting an EPS of $1.17 versus an estimate of $1.08.
Revenue was down $199.70 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company beat on EPS by $0.13 which was followed by a 3.03% increase in the share price the next day.
Here's a look at Black Hills's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.54</td>
<td>0.38</td>
<td>1.66</td>
<td>1.16</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.67</td>
<td>0.35</td>
<td>1.73</td>
<td>1.11</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>584.67M</td>
<td>505.65M</td>
<td>748.25M</td>
<td>427.46M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>407.10M</td>
<td>411.30M</td>
<td>921.20M</td>
<td>791.40M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Black Hills <a href="https://www.benzinga.com/quote/BKH/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

Black Hills: Q4 Earnings Insights

Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) reported quarterly earnings of $1.17 per share which beat the analyst consensus estimate of $1.10 by 6.36 percent. The company reported quarterly sales of $591.70 million which missed the analyst consensus estimate of $863.66 million by 31.49 percent. This is a 25.23 percent decrease over sales of $791.40 million the same period last year.

Earnings Beats

Earnings Misses

Black Hills Q4 2023 GAAP EPS $1.17 Beats $1.10 Estimate, Sales $591.70M Miss $863.66M Estimate

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Earnings Scheduled For February 7, 2024

Black Hills Increases Quarterly Dividend From $0.625 To $0.65 Per Share

Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) has observed the following analyst ratings within the last quarter: 
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
These 4 analysts have an average price target of $54.0 versus the current price of Black Hills at $50.9, implying upside.
Below is a summary of how these 4 analysts rated Black Hills over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
<img src="https://www.benzinga.com/files/images/story/2023/1700571638_0.png" alt="price target chart" />
This current average represents a 11.95% decrease from the previous average price target of $61.33. 
<a href="https://www.benzinga.com/quote/BKH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Black Hills analyst ratings.</a>
<h1>Analyst Ratings: What Are They?</h1>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings for Black Hills

Mizuho analyst Anthony Crowdell upgrades Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) from Underperform to Neutral and announces $53 price target.

Upgrades

Mizuho Upgrades Black Hills to Neutral, Announces $53 Price Target

B of A Securities analyst Julien Dumoulin-Smith maintains Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) with a Underperform and lowers the price target from $60 to $49.

B of A Securities Maintains Underperform on Black Hills, Lowers Price Target to $49

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Shares of utilities stocks are trading higher amid a drop in Treasury yields following softer-than-expected October CPI data.

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"The Roundhill S&amp;P Dividend Monarchs ETF is the first-ever U.S. listed ETF to track the performance of Dividend Monarchs, an elite group of U.S. blue chip companies that have grown their dividends for 50+ consecutive years," the company <a href="https://www.roundhillinvestments.com/etf/kngs/">said</a>.
The ETF will pay distributions on a quarterly basis, with payout dates in December, March, June and September listed on the website. The S&amp;P Dividend Monarchs Index yields 3.51% as of October 2023.
"These companies, having rewarded shareholders with rising dividends for over half a century, exemplify financial fortitude and long-term vision," Roundhill Chief Strategy Officer Dave Mazza said. "The KNGS ETF offers investors the opportunity to tap into this elite group, providing both the potential for robust yield and the premium quality associated with enduring blue-chip names."
Related Link: <a href="https://www.benzinga.com/news/23/03/31431119/exclusive-roundhill-launches-big-bank-etf-with-6-holdings-highlights-diversified-deposits-stronger-b">Exclusive: Roundhill Launches Big Bank ETF With 6 Holdings, Highlights Diversified Deposits, Stronger Balance Sheets</a>
Why the New ETF?: The fund tracks the companies that increased their dividends for 50 straight years. With the 50-year requirement, many of the world's most valuable companies are knocked out. 
"KNGS is the first U.S. listed ETF to offer exposure to Dividend Kings, the gold standard of dividend growers having raised dividends for over 50 plus years," Mazza told Benzinga.
According to Roundhill's website, the companies included in the ETF have been battle-tested over the years.
"They have successfully weathered economic challenges, market pullbacks, wars and other various other market shocks, all whilst continuing to deliver for shareholders," the website stated.
Economic storms listed include Black Monday, the 2000s tech bubble, the 2008 Financial Crisis and the COVID-19 pandemic.
"The Dividend Monarchs offers investors access to companies that have shown incredible resilience and have high quality characteristics including strong return on equity and low variability in their earnings," Mazza added.
Mazza said the companies in the ETF "exemplify financial fortitude and long-term vision."
The fund also provided access to dividend stocks, which were in favor in recent years given the challenges of the economy and stock market.
"We've heard from investors they're interested in having access to high-quality companies in uncertain market environment," Mazza said. 
Top Fund Holdings: The ETF includes 36 stock holdings.
Here are the top holdings in the ETF as of Nov. 2, with their fund weighting and current dividend yield listed:
Leggett &amp; Platt Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEG#NYSE">LEG</a>), 4.9% of fund, 7.7% yield
3M Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>), 4.9% of fund, 6.6% yield
Federal Realty Investment Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FRT#NYSE">FRT</a>), 4.9% of fund, 4.8% yield
Black Hills Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>), 4.8% of fund, 5.2% yield
Stanley Black &amp; Decker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>), 4.0% of fund, 3.8% yield
Sonoco Products (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SON#NYSE">SON</a>), 3.9% of fund, 3.8% yield
Target Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), 3.9% of fund, 4.0% yield
Kimberly-Clark Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>), 3.8% of fund, 4.0% yield
AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), 3.8% of fund, 4.4% yield
Kenvue Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>), 3.7% of fund, 4.2% yield
Outside of the top 10 holdings, most investors will recognize other blue-chip stock names such as Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), PepsiCo, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>), Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), Procter &amp; Gamble (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>), Lowe's Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOW#NYSE">LOW</a>) and many others.
Roundhill ETFs: The latest ETF launch from Roundhill Investments adds to the list of funds that cover niche sectors and overall market themes.
Among the highlights are:
Roundhill Generative AI &amp; Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHAT#NYSE">CHAT</a>)
Roundhill Cannabis ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/WEED#BATS">WEED</a>)
Roundhill Video Games ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NERD#NYSE">NERD</a>)
Roundhill Sports Betting &amp; iGaming ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BETZ#NYSE">BETZ</a>)
Roundhill Ball Metaverse ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/METV#NYSE">METV</a>)
Roundhill Big Tech ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIGT#NASDAQ">BIGT</a>)
Roundhill Big Banks ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIGB#NASDAQ">BIGB</a>)
Read Next:<a href="https://www.benzinga.com/markets/cannabis/22/04/26705309/a-new-fund-for-420-here-are-the-details-of-the-roundhill-cannabis-etf"> A New Fund For 420, Here Are The Details Of The Roundhill Cannabis ETF</a>

EXCLUSIVE: Roundhill Launches Dividend Kings ETF With 'The Gold Standard Of Dividend Growers,' Companies With 'Incredible Resilience'

Black Hills Reaffirms FY23 EPS $3.65 To $3.85

Black Hills Corp Q3 2023 EPS $0.67 Up From $0.54 YoY, Revenue $407.1M Misses $579.859M Est.

Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) is set to give its latest quarterly earnings report on Wednesday, 2023-11-01. Here's what investors need to know before the announcement.
Analysts estimate that Black Hills will report an earnings per share (EPS) of $0.54. 
Black Hills bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.03, which was followed by a 2.5% drop in the share price the next day.
Here's a look at Black Hills's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
<th>Q3 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.38</td>
<td>1.66</td>
<td>1.16</td>
<td>0.59</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.35</td>
<td>1.73</td>
<td>1.11</td>
<td>0.54</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.5%</td>
<td>2.22%</td>
<td>-9.28%</td>
<td>-2.43%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1698775322_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Black Hills were trading at $48.06 as of October 30. Over the last 52-week period, shares are down 25.77%. Given that these returns are generally negative, long-term shareholders are likely unhappy going into this earnings release. 
<a href="https://www.benzinga.com/quote/BKH/earnings">To track all earnings releases for Black Hills visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Black Hills's Earnings: A Preview

Black Hills Natural Gas Utility Requests Approval Of Settlement Agreement For Rate Review In Wyoming

The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi"> RSI is below 30.</a>
Here&rsquo;s the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3>Black Hills Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bkh#NYSE">BKH</a>)</h3>
<ul>
<li>Black Hills priced $450 million public debt offering 6.15% senior unsecured notes due May 15, 2034. The company&rsquo;s stock has a <a href="https://www.benzinga.com/quote/BKH">52-week low of $51.33 </a>.</li>
<li>RSI Value: 29.77</li>
<li>BKH Price Action: Shares of Black Hills fell 0.8% to close at $51.62 on Wednesday.</li>
</ul>
<h3>Unitil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/utl#NYSE">UTL</a>)</h3>
<ul>
<li>Unitil posted weaker-than-expected quarterly earnings. &ldquo;We are pleased with our solid second quarter and year-to-date results which reflect the Company&rsquo;s disciplined approach to cost management,&rdquo; said Thomas P. Meissner, Jr., Unitil&rsquo;s Chairman and Chief Executive Officer. It <a href="https://www.benzinga.com/quote/UTL"> has a 52-week low </a> of $43.62.</li>
<li>RSI Value: 29.25</li>
<li>UTL Price Action: Shares of Unitil fell 0.7% to close at $43.88 on Wednesday.</li>
</ul>
<h3>Middlesex Water Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msex#NASDAQ">MSEX</a>)</h3>
<ul>
<li>Middlesex Water posted downbeat quarterly results. Middlesex Chairman, President and Chief Executive Officer Dennis W. Doll said, &ldquo;The calendar year 2023 continues to be a period of significant transition as we execute our succession plans, continue investing to adapt to new regulatory requirements, manage rate filing proceedings currently in progress and responsibly manage our resources to meet customer needs during the peak summer season.&rdquo; The company&rsquo;s stock has a 52-week <a href="https://www.benzinga.com/quote/MSEX"> low of $66.51.</a></li>
<li>RSI Value: 26.00</li>
<li>MSEX Price Action: Shares of Middlesex Water fell 0.7% to close at $67.19 on Wednesday.</li>
</ul>
<h3>Atmos Energy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ato#NYSE">ATO</a>)</h3>
<ul>
<li>Atmos Energy posted downbeat third-quarter results. &quot;The dedication of our employees coupled with the exceptional customer service they provide to our more than 3 million customers continues to position us to achieve fiscal 2023 earnings in the range of $6.00 to $6.10 per diluted share,&quot; said Kevin Akers, President and Chief Executive Officer of Atmos Energy. The company&rsquo;s 52-week low is $97.71.</li>
<li>RSI Value: 25.54</li>
<li>ATO Price Action: Shares of Atmos Energy fell 0.5% to close at $106.46 on Wednesday.</li>
</ul>
&nbsp;
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Top 4 Utilities Stocks You'll Regret Missing This Quarter

Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) has observed the following analyst ratings within the last quarter: 
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
These 4 analysts have an average price target of $58.0 versus the current price of Black Hills at $53.8116, implying upside.
Below is a summary of how these 4 analysts rated Black Hills over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock
<img src="https://www.benzinga.com/files/images/story/2023/1695405644_0.png" alt="price target chart" />
This current average has decreased by 7.2% from the previous average price target of $62.50. 
<a href="https://www.benzinga.com/quote/BKH/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Black Hills analyst ratings.</a>
<h1>Analyst Ratings: What Are They?</h1>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Ratings for Black Hills

Mizuho analyst Anthony Crowdell maintains Black Hills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKH#NYSE">BKH</a>) with a Underperform and lowers the price target from $56 to $53.

Mizuho Maintains Underperform on Black Hills, Lowers Price Target to $53

IDU: Utilities Dashboard For February

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The utilities sector performed poorly in 2023 because of rising share prices. The negative sentiment has continued in 2024. As a result, many utilities share prices have fallen, but the yields have reached decade highs. Also, valuations are depressed compared to their historical averages and the S&amp;P 500.



This combination means investors can purchase shares of income stocks trading at reduced valuations. The sector is sensitive to interest rates, so when they decline, valuations should rise and yields come down. However, now is an excellent time to lock in utilities that are still growing earnings and dividend payouts.



<h2>NorthWestern Energy Group (NWE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/10/electricity-power-lines-1600-300x169.png" alt="Numerous electric lines are seen at sunset."><div>Source: Pand P Studio / Shutterstock.com</div></div>NorthWestern Energy Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/nwe-stock-quote/">NWE</a>) is a 100-year-old electricity and natural gas utility. The company operates in Montana, South Dakota, Nebraska and Yellowstone National Park, providing services to more than 764,000 customers. The utility reorganized to separate its regulated subsidiaries in South Dakota and Montana and unregulated assets in Nebraska. Total revenue was $1.4 billion in 2023.



Like all utilities, NorthWestern increases its earnings per share (EPS) by growing its <a href="https://www.dividendpower.org/what-is-rate-base/">rate base</a>. The utility targets a 4% to 6% annual increase driven by capital investment. It has a $2.5 billion five-year capital expenditure plan to increase electricity generation, transmission, and distribution, and natural gas transmission and distribution. The firm should also add to the top and bottom lines through population growth and rate cases with its regulators. Currently, both states&rsquo; populations are rising about 1% to 1.5% annually contributing to growth.



However, a risk for NorthWestern is its dependence on contracted power. The regulated utilities are addressing the issue by completing a 58-megawatt natural gas generating station and building a 175 MW plant to start operation in 2024. They are also buying the Colstrip coal power plant, adding 222 MW of capacity in 2025.



The forward dividend yield is 5.3%, nearly the highest value in a decade and a whole percentage point above the five-year average. Like most utilities, NorthWestern&rsquo;s share price has declined because of high yields on short-term U.S. Treasurys. Additionally, it has a 20-year dividend growth streak and is on the list of Dividend Contenders.



NorthWestern typically increases the dividend between 1.5% and 5% annually in the last five years because of the lofty payout ratio of about 78%. However, dividend safety is high because of stable revenue, earnings, and free cash flow resulting from its regulated utilities. The safety is enhanced by the lower-medium investment grade credit ratings from the three leading agencies.



The equity is only trading at an earnings multiple of 13.9x, below the five-year and 10-year ranges. Investors seeking income at a reasonable price should look here.



<h2>Black Hills Corporation (BKH)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/oilgas1600-300x169.png" alt="Production operator communicate between central control room by using radio to operate ball valve at offshore oil and gas processing platform for control gases and liquid crude oil process. Energy Stocks. Bargain energy stocks for June"><div>Source: Oil and Gas Photographer / Shutterstock.com</div></div>Black Hills Corporation (NYSE:<a href="https://investorplace.com/stock-quotes/bkh-stock-quote/">BKH</a>) is another regulated Great Plains electricity and natural gas utility. It provides electricity to about 222,000 customers in Colorado, Montana, South Dakota and Wyoming. In addition, it distributes natural gas to approximately 1,116,000 customers in Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming. Total revenue was $2.3 billion in 2023.



The utility has a long-term EPS growth target of 4% to 6% annually, driven by a planned $4.3 billion in capital investments over the next five years to increase the rate base. The firm&rsquo;s expansive geographic footprint means it must face regulatory hurdles in multiple states. However, Black Hills has seemingly been successful and is currently pursuing rate reviews in multiple states. This should help drive growth.



Higher interest rates have caused the dividend yield to surge to about 5%, 1.5 percentage points above the five-year average. Moreover, the yield is almost at a decade high. The dividend growth rate is roughly 5% per annum, the midpoint of the EPS growth. Black Hills targets a 55% to 65% payout ratio, meaning safety is excellent. As a result, the utility should extend its 54-year streak of increases and maintain its <a href="https://www.dividendpower.org/list-dividend-kings-2024/">Dividend King status</a>.



The excellent dividend safety is enhanced by the A <a href="https://blog.portfolio-insight.com/entries/24dd1e53-6351-41ee-93d1-642ebfe44715">dividend quality grade</a> from Portfolio Insight. It also has a BBB+/Baa2 lower-medium investment credit rating, giving greater confidence about safety.



In addition to the solid yield, dividend growth and long history of paying a dividend, Black Hills is significantly undervalued. The forward price-to-earnings (P/E) ratio is about 12.1x, well below the five-year and 10-year ranges.



<h2>Spire (SR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/naturalgas1600-300x169.jpg" alt="TELL stock: a row of natural gas tanks pictured in the evening. Natural gas stocks"><div>Source: Shutterstock</div></div>Spire (NYSE:<a href="https://investorplace.com/stock-quotes/sr-stock-quote/">SR</a>) is a natural gas utility tracing its history to 1857. The firm has both regulated and unregulated businesses. The regulated utilities operate in Missouri, Mississippi and Alabama, serving 1.7 million customers. Additionally, the company has natural gas storage facilities in Oklahoma and Wyoming and owns the MoGas and Omega pipelines in Missouri. Total revenue was $2.6 billion in the last 12 months.



The utility is spending around $7.2 billion over the next decade in its capital investment plan. The plan is centered on infrastructure upgrades and new business. The expenditures should drive 7% to 8% rate base growth, resulting in 5% to 7% EPS growth after 2024. Besides capital improvements, Spire conducts periodic rate reviews to increase income. On the unregulated side, the company is spending to expand its storage capacity and acquire pipelines.



Spire has paid a rising dividend for 21 years, making it a Dividend Contender. The yield has risen to about 5.1%, well above the five-year average. The firm has increased the dividend by about 5% per year on average in the trailing five and ten years. However, the payout ratio is about 72%, meaning the growth rate may be lower in the near future.



The forward P/E ratio is about 13.7x, making the equity a bargain considering the dividend yield.



On the date of publication, Prakash Kolli held a LONG position in NWE and SR. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Prakash Kolli is the founder of the <a href="https://www.dividendpower.org/">Dividend Power</a> site. He is a self-taught investor and blogger on dividend growth stocks and financial independence. Some of his writings can be found on Seeking Alpha, InvestorPlace, TalkMarkets, ValueWalk, The Money Show, Forbes, Yahoo Finance, FXMag, and leading financial blogs. He also works as a part-time freelance equity analyst with a leading newsletter on dividend stocks. He was recently in the top 1.0% and 100 (81 out of over 9,459) of financial bloggers as tracked by TipRanks (an independent analyst tracking site) for his articles on Seeking Alpha.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/02/3-utilities-stocks-yielding-5-for-income-investors/">3 Utilities Stocks Yielding 5% for Income Investors</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Black Hills Corp (BKH) stock is lower by -16.40% over the last 12 months, and the average rating from Wall Street analysts is a Hold. InvestorsObserverâ€&#x2122;s proprietary ranking system, gives BKH stock a score of  25 out of a possible 100. That rank is mainly influenced by a short-term technical score of 18. BKH's rank also in