Black Hills
BKH · NYSE · Utilities
$70.45
$0.86 (-1.22%) today
Market Cap
$5.37B
24h Volume
$144.3M
P/E Ratio
17.8
52w High
$75.38
52w Low
$56.41
Est. AI Revenue
10%
7-Day Sparkline (Static)
Company facts
Performance
About Black Hills
Black Hills Corporation is a regulated utility holding company operating under the Black Hills Energy brand. It provides electricity and natural gas to customers across eight states in the Rocky Mountain and Midwest regions, earning returns approved by state regulators on its generation, grid and pipeline investments.
Its most distinctive AI angle is Cheyenne, Wyoming, a long running data center hub in its electric territory. Microsoft has operated campuses there for years, and new AI focused projects continue to land. Data center demand is the company's fastest growing load segment, and Black Hills uses a blended rate framework designed to serve large data center customers while protecting other ratepayers.
Founded in 1941 and headquartered in Rapid City, South Dakota, Black Hills employs about 2,800 people and trades on the NYSE.
Black Hills in the AI buildout
Black Hills Corporation sits in the Utilities & Grid layer of the AI buildout. Cheyenne, Wyoming has quietly become a data center hub, helped by cool weather, cheap land and available power, and Black Hills is the utility serving it. Long standing Microsoft campuses plus newer AI projects make data centers its fastest growing load segment, and its blended rate framework gives it a repeatable way to serve that demand. Small scale and regulated returns keep the exposure niche rather than transformative.
BKH is tracked in Utilities & Grid, rated Peripheral on the AI Exposure leaderboard.
By the numbers
52-week range
BKH trades at $70.45, 74% of the way up its 52-week range of $56.41 to $75.38.
Market cap
Market capitalization is $5.37B, with an AI Exposure Score of 27 out of 100.
Valuation vs peers
Its P/E ratio of 17.8 is below the Utilities & Grid category median of 21.7.
Next earnings
Black Hills is next expected to report earnings on November 4, 2026.
Market data as of the close on . Prices are end of day, not live.
Frequently asked questions
What does Black Hills Corporation do?
Black Hills Corporation, operating as Black Hills Energy, is a regulated utility providing electricity and natural gas to customers across eight Rocky Mountain and Midwest states. It earns regulator approved returns on generation, grid and pipeline investment.
How is Black Hills Corporation exposed to AI?
Its Cheyenne, Wyoming territory is a data center hub with long standing Microsoft campuses and new AI projects, making data centers its fastest growing load segment. Supercycle rates it Peripheral with an AI Exposure Score of 27 out of 100.
Why is Cheyenne a data center hub?
Cheyenne offers a cool climate, inexpensive land and available power, which attracted Microsoft years ago and continues to draw new projects. Black Hills serves that load under a blended rate framework built for large data center customers.
Who leads Black Hills Corporation?
Linden R. Evans serves as CEO. The company is headquartered in Rapid City, South Dakota, employs about 2,800 people, and was founded in 1941. Its shares trade on the New York Stock Exchange under the ticker BKH.
Is BKH a pure play AI stock?
No. Black Hills is a diversified regulated utility, and most of its electric and gas business is unrelated to AI. Its Cheyenne data center niche is real but small, so Supercycle classifies it as Peripheral.
Profile written 2026-08, updated as the business changes. Editorial content, not investment advice.
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