BKH

Pending state regulatory rulings or interim orders could change allowed returns or cost recovery and re-rate shares; expected_date is estimated conservatively as 90 days out when no single date is disclosed [assumption: short → as_of_date+90d] [#SERP-5].

Near-term weather-driven demand or regional gas-basis swings can move utility earnings and distribution timing; conservative short-horizon estimate applied (90 days) when no single event date is defined [assumption noted].

Multi-quarter re-rating possible if the company sustains dividend increases and grows regulated rate base across jurisdictions; long horizon estimate uses as_of_date+365d to capture regulatory cycles and capex realization [assumption: long → as_of_date+365d] [#SERP-1][#SERP-3].