Black Hills Corp. (BKH, Financial) filed Quarterly Report for the period ended 2010-03-31.
Black Hills Corp. has a market cap of $1.22 billion; its shares were traded at around $31.25 with a P/E ratio of 23.5 and P/S ratio of 1. The dividend yield of Black Hills Corp. stocks is 4.6%.BKH is in the portfolios of Private Capital of Private Capital Management, John Keeley of Keeley Fund Management.
Net income was $31.4 million, or $0.81 per share, in the first three months of 2010, compared to $26.4 million, or $0.68 per share, for the same period in 2009. In addition to the items mentioned above in income from continuing operations, the 2009 net income includes $0.8 million of after-tax income from discontinued operations related to the IPP Transaction.
The Utilities Group's income from continuing operations for the first three months of 2010 was $29.4 million, compared to $26.6 million for the same period in 2009. Our Electric Utilities were positively impacted by an increase in off-system sales margins and our Gas Utilities recorded increased margins due to favorable weather and the impact of rate proceedings not in effect in the first quarter of 2009. In addition, highlights of our Utilities Group include the following:
Income from continuing operations was $7.1 million for the first three months of 2010 for the Non-regulated Energy Group compared to a loss from continuing operations of $6.5 million in the same period in 2009. Our Energy Marketing and Oil and Gas segments were impacted significantly by changes in commodity prices. In addition, highlights of the Non-regulated Energy Group include the following:
Loss from continuing operations was $5.0 million for the first three months of 2010 compared to income from continuing operations of $5.5 million in the same period in 2009.
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Black Hills Corp. has a market cap of $1.22 billion; its shares were traded at around $31.25 with a P/E ratio of 23.5 and P/S ratio of 1. The dividend yield of Black Hills Corp. stocks is 4.6%.BKH is in the portfolios of Private Capital of Private Capital Management, John Keeley of Keeley Fund Management.
Highlight of Business Operations:
Three Months Ended March 31, 2010 Compared to Three Months Ended March 31, 2009. Income from continuing operations for the three months ended March 31, 2010 was $31.4 million, or $0.81 per share, compared to $25.6 million, or $0.66 per share, reported for the same period in 2009. The 2010 income from continuing operations includes a $1.7 million after-tax gain on the sale of assets by Nebraska Gas and a $2.0 million non-cash after-tax mark-to-market loss on certain interest rate swaps. The 2009 income from continuing operations includes a $9.6 million after-tax mark-to-market gain on these same interest rate swaps, a $27.8 million after-tax non-cash ceiling tax impairment, and a $16.9 million after-tax gain on the sale of a 23.5% ownership interest in Wygen I.Net income was $31.4 million, or $0.81 per share, in the first three months of 2010, compared to $26.4 million, or $0.68 per share, for the same period in 2009. In addition to the items mentioned above in income from continuing operations, the 2009 net income includes $0.8 million of after-tax income from discontinued operations related to the IPP Transaction.
The Utilities Group's income from continuing operations for the first three months of 2010 was $29.4 million, compared to $26.6 million for the same period in 2009. Our Electric Utilities were positively impacted by an increase in off-system sales margins and our Gas Utilities recorded increased margins due to favorable weather and the impact of rate proceedings not in effect in the first quarter of 2009. In addition, highlights of our Utilities Group include the following:
Income from continuing operations was $7.1 million for the first three months of 2010 for the Non-regulated Energy Group compared to a loss from continuing operations of $6.5 million in the same period in 2009. Our Energy Marketing and Oil and Gas segments were impacted significantly by changes in commodity prices. In addition, highlights of the Non-regulated Energy Group include the following:
Loss from continuing operations was $5.0 million for the first three months of 2010 compared to income from continuing operations of $5.5 million in the same period in 2009.
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