Black Hills Corporation (BKH)
Black Hills Corporation is a natural gas and electric utility company in the United States. The company is headquartered in Rapid City, South Dakota.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 26.13% per annum.
- BKH price at the close of April 29, 2025 was $61.16 and was lower than the bottom border of the primary price channel by $1.13 (1.82%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 1.61% per annum.
- BKH price at the close of April 29, 2025 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of BKH price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: September 26, 2023
End date: December 17, 2024
a = 3.0371
b = 0.0006
s = 0.0329
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0006) – 1
= 26.13%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0329) – 1
= 14.05%
September 26, 2023 calculations
Top border of price channel:
Exp(Y857)
= Exp(a + b × X857 + 2 × s)
= Exp(a + b × 1,244 + 2 × s)
= Exp(3.0371 + 0.0006 × 1,244 + 2 × 0.0329)
= Exp(3.8938)
= $49.10
Bottom border of price channel:
Exp(Y857)
= Exp(a + b × X857 – 2 × s)
= Exp(a + b × 1,244 – 2 × s)
= Exp(3.0371 + 0.0006 × 1,244 – 2 × 0.0329)
= Exp(3.7624)
= $43.05
December 17, 2024 calculations
Top border of price channel:
Exp(Y1,166)
= Exp(a + b × X1,166 + 2 × s)
= Exp(a + b × 1,692 + 2 × s)
= Exp(3.0371 + 0.0006 × 1,692 + 2 × 0.0329)
= Exp(4.1787)
= $65.28
Bottom border of price channel:
Exp(Y1,166)
= Exp(a + b × X1,166 – 2 × s)
= Exp(a + b × 1,692 – 2 × s)
= Exp(3.0371 + 0.0006 × 1,692 – 2 × 0.0329)
= Exp(4.0473)
= $57.24
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 26.13% per annum.
- BKH price at the close of April 29, 2025 was $61.16 and was lower than the bottom border of the primary price channel by $1.13 (1.82%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: August 26, 2024
End date: April 29, 2025
a = 4.0078
b = 0.0000
s = 0.0283
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 1.61%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0283) – 1
= 11.99%
August 26, 2024 calculations
Top border of price channel:
Exp(Y1,087)
= Exp(a + b × X1,087 + 2 × s)
= Exp(a + b × 1,579 + 2 × s)
= Exp(4.0078 + 0.0000 × 1,579 + 2 × 0.0283)
= Exp(4.1338)
= $62.41
Bottom border of price channel:
Exp(Y1,087)
= Exp(a + b × X1,087 – 2 × s)
= Exp(a + b × 1,579 – 2 × s)
= Exp(4.0078 + 0.0000 × 1,579 – 2 × 0.0283)
= Exp(4.0205)
= $55.73
April 29, 2025 calculations
Top border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 + 2 × s)
= Exp(a + b × 1,825 + 2 × s)
= Exp(4.0078 + 0.0000 × 1,825 + 2 × 0.0283)
= Exp(4.1445)
= $63.09
Bottom border of price channel:
Exp(Y1,255)
= Exp(a + b × X1,255 – 2 × s)
= Exp(a + b × 1,825 – 2 × s)
= Exp(4.0078 + 0.0000 × 1,825 – 2 × 0.0283)
= Exp(4.0313)
= $56.33
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 1.61% per annum.
- BKH price at the close of April 29, 2025 was inside the secondary price channel.