Black Hills Corporation (BKH, Financial) (BKH - $56.66 – NYSE) is a utility headquartered in Rapid City, SD. e company reported a di cult quarter, missing consensus expectations mostly due to warmer than anticipated weather and to a lesser extent due to COVID impacts. However, management lowered full-year guidance to incorporate additional potential impacts stemming from COVID. It is unknown if these impacts will materialize but conservatism of management is welcomed during this uncertain time. Overall, we view utilities in general as attractive given the regulated aspect of the business especially in this “lower for longer” interest rate environment.
From Keeley Asset Management Corp (Trades, Portfolio)'s Mid Cap Dividend Value Fund second-quarter 2020 shareholder commentary.
