BLACK HILLS CORP
Black Hills Corporation (NYSE: BHC) operates as a customer-focused utility company serving customers across the United States through its Electric Utilities and Gas Utilities segments. The company maintains its website at www.blackhillscorp.com. From the company’s description.
Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.
What BLACK HILLS CORP does
In the company’s own words
Black Hills Corporation (NYSE: BHC) operates as a customer-focused utility company serving customers across the United States through its Electric Utilities and Gas Utilities segments. The company maintains its website at www.blackhillscorp.com.
The Electric Utilities segment generates, transmits, and distributes electricity to approximately 227,000 retail customers across Colorado, Montana, South Dakota, and Wyoming. This segment owns 1,386 megawatts of generation capacity and operates 9,478 miles of electric transmission and distribution lines. The company's power supply portfolio includes coal, natural gas, wind, and purchased power, with generation facilities ranging from coal-fired plants at the Gillette Energy Complex to wind farms including Peak View and Busch Ranch facilities. The segment also operates a vertically integrated coal mining business through Wyodak Resources Development Corporation, which produces approximately 3.3 million tons annually to supply on-site generation facilities.
The Gas Utilities segment serves approximately 1.1 million natural gas customers across Arkansas, Colorado, Iowa, Kansas, Nebraska, and Wyoming. This segment operates 4,581 miles of intrastate transmission pipelines, 44,840 miles of distribution mains and service lines, seven underground storage facilities, and 494 miles of gathering lines. The company procures natural gas from diverse sources and employs financial hedges and fixed-price purchases to manage costs.
Black Hills Corporation operates as a regulated utility company subject to oversight by state public utility commissions and the Federal Energy Regulatory Commission. The company employs various cost recovery mechanisms including energy cost adjustments, power cost adjustments, and system safety riders that allow utilities to pass prudently-incurred costs to customers between rate reviews.
In August 2025, Black Hills Corporation entered into an agreement to merge with NorthWestern Energy Group in an all-stock transaction expected to close in the second half of 2026. The combined company will serve approximately 0.7 million electric customers and 1.5 million gas customers across eight states. The company also provides non-regulated services including home repair plans, appliance protection programs, and electrical system construction services to its utility customers.
Company details
- Sector
- Utilities
- Industry
- Electric, Gas & Water
- Headquarters
- RAPID CITY, SD
- Fiscal year end
- December
- CIK
- 1130464
- SIC
- 4911
Financial performance, year by year
Fiscal 2013–2025 · USDThe full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.
Who owns BLACK HILLS CORP — and what changed
Funds as of 2026Q2 · superinvestors as of 2026-06-30
Largest fund holders · BLACK HILLS CORP’s weight in each
Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.
BLACK HILLS CORP’s bonds, as funds hold them
Funds report holding 10 issues of BLACK HILLS CORP’s debt, $718.29M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 4.51%, maturing 2027 to 2049.
Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.
Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.
Recent filings
All filings →Each filing opens into its own statements and disclosures here.
Put this business in context.
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