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Stock Market & Financial Investment News

News Breaks
July 31, 2014
17:23 EDTBKHBlack Hills utility subsidiary receives revenue increase approval
Black Hills Corp. utility subsidiary Cheyenne Light, Fuel & Power received approvals from the Wyoming Public Service Commission of settlement agreements allowing the company to increase electric and natural gas revenues. The new natural gas and electric rates will generate an estimated $9.2M per year in additional revenue, based on a return on equity of 9.9%, and a capital structure of approximately 54% equity and 46% debt.
News For BKH From The Last 14 Days
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October 14, 2014
16:39 EDTBKHBlack Hills acquires Gas Natural subsidiary for $17M
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16:07 EDTBKHGas Natural announces sale of Wyoming assets for $17M
Gas Natural (EGAS) announced that its subsidiary, Energy West Incorporated, has signed a definitive agreement for the sale of its subsidiary, Energy West Wyoming, Inc., as well its Wyoming pipeline assets and related real estate, equipment and contracts to Black Hills Corporation (BKH) for $17M. The closing is subject to customary closing conditions, as well as regulatory approvals. The Energy West Wyoming transaction also contains a working capital adjustment at closing and a post-closing working capital "true-up." As part of the agreement, Energy West Incorporated and Black Hills Corporation will enter into a Transition Services Agreement to insure a seamless transition for Energy West Wyoming, Inc.'s Wyoming customers. The transaction is expected to close in approximately six to twelve months. Energy West Incorporated intends to use the proceeds from this transaction to reinvest into the business to generate solid returns on its invested capital. Including the gain anticipated on this transaction, the redeployment of resources is expected to have a significant positive impact on the company's earnings in 2015 and beyond.

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