Black Hills Corporation partners with Meta to power data centers, showing strong growth potential

From Nasdaq: 2024-07-19 06:59:11

Black Hills Corporation (BKH) partners with Meta Platforms to power data center, tapping into the industry’s projected 6.56% annual growth rate, reaching $438.70 billion by 2028. With a 4.39% dividend yield and strong financials, BKH is a top choice for income-seeking investors.

BKH stock, valued at $4.08 billion, offers a 8% YTD return, attractively priced with a forward P/E of 15.09 and dividend yield of 4.39%. Q1 2024 earnings show strong growth, and recent strategic moves like acquiring a renewable energy facility position BKH for further success in the future.

BKH’s partnership with Meta isn’t a one-off, as the company plans to expand services to data center and blockchain customers. With institutional ownership at 86%, stability in the stock is assured, despite trading at a premium to analysts’ mean price target of $57.25.

Black Hills Corporation (BKH) is a compelling choice for investors looking for stability, income, and exposure to the growing data center sector. Despite caution from analysts, BKH’s solid fundamentals and growth strategies suggest potential for an electrifying breakout in the future.



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