Hawaiian Electric Industries (NYSE:HE) Announces Quarterly Earnings Results

Hawaiian Electric Industries (NYSE:HE) issued its quarterly earnings data on Friday. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.09), FiscalAI reports. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The business had revenue of $746.45 million for the quarter, compared to analysts’ expectations of $805.26 million.

Here are the key takeaways from Hawaiian Electric Industries’ conference call:

• The company finalized the Maui Wildfire tort settlement (final conditions satisfied April 10) and made the first of four $479 million annual payments from a special-purpose vehicle, reducing litigation uncertainty while planning to fund future payments with debt/convertible debt and/or equity targeting investment‑grade metrics.
• HEI reports strong liquidity and improving credit momentum — the utility and holding company have roughly ~$1 billion of combined liquidity (cash plus available credit/ATM/ABL facilities) and Moody’s upgraded the utility to Ba1 and the holding company to Ba2 after the settlement.
• Rising global oil prices are increasing customer bills and working capital needs; management expects higher O&M (driven by severe storm response, insurance, vegetation management, IT and labor) and will realize a penalty under the Fuel Cost Risk Sharing (FCRS), which reduces revenue and contributed to lower core earnings year‑over‑year.
• HEI and Ulupono submitted a joint rate rebasing proposal seeking ~5.3% consolidated base‑rate increase phased across 2027–28 (avg. bill +$8–$12 in 2027, +$2–$3 in 2028) with proposed PBR incentives (200 bps total); the PUC review process and final outcomes remain uncertain.
• The PUC approved the Waiau Generating Station repowering with $908 million recoverable through EPRM, HEI expects higher total project costs and plans to seek an additional ~$247 million in a future rate proceeding, and Waiau CapEx for 2026 was increased to ~$157 million.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE traded down $0.59 during midday trading on Friday, hitting $14.83. The stock had a trading volume of 3,263,313 shares, compared to its average volume of 1,626,839. The company has a market capitalization of $2.56 billion, a PE ratio of 20.88 and a beta of 0.54. The stock has a 50 day moving average price of $15.18 and a two-hundred day moving average price of $13.88. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.74. Hawaiian Electric Industries has a 1 year low of $10.14 and a 1 year high of $17.38.

Institutional Trading of Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Man Group plc acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $160,000. Meixler Investment Management Ltd. lifted its stake in shares of Hawaiian Electric Industries by 23.0% in the fourth quarter. Meixler Investment Management Ltd. now owns 12,300 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 2,300 shares during the period. Cibc World Markets Corp acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $142,000. Comerica Bank lifted its stake in shares of Hawaiian Electric Industries by 45.0% in the third quarter. Comerica Bank now owns 5,779 shares of the utilities provider’s stock valued at $64,000 after purchasing an additional 1,793 shares during the period. Finally, Certuity LLC acquired a new stake in shares of Hawaiian Electric Industries in the third quarter valued at about $136,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HE. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Barclays raised their price objective on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. Finally, Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their target price for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of “Reduce” and a consensus target price of $13.25.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.