Hawaiian Electric Industries, Inc., through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. This segment serves suburban communities, resorts, the United States armed forces installations, and agricultural operations. The Bank segment operates a community bank that offers banking and other financial services to consumers and businesses, including savings and checking accounts; and loans comprising residential and commercial real estate, residential mortgage, construction and development, multifamily residential and commercial real estate, consumer, and commercial loans. This segment operates 42 branches, including 29 branches in Oahu, 6 branches in Maui, 4 branches in Hawaii, 2 branches in Kauai, and 1 branch in Molokai. The Other segment invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. Hawaiian Electric Industries Inc. was founded in 1891 and is headquartered in Honolulu, Hawaii.
IPO Year:
Exchange: NYSE
Website: hei.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 3/7/2025 | $12.00 → $14.00 | In-line → Outperform | Evercore ISI |
| 2/7/2025 | $10.00 | Equal Weight | Barclays |
| 12/3/2024 | $11.50 | Hold | Jefferies |
| 8/23/2024 | $14.00 | Underweight → Equal Weight | Wells Fargo |
| 11/10/2023 | $8.00 → $8.50 | Equal Weight → Underweight | Wells Fargo |
| 8/18/2023 | $25.00 → $8.00 | Underweight → Equal Weight | Wells Fargo |
| 8/18/2022 | $43.00 | Neutral → Underperform | BofA Securities |
| 1/20/2022 | $41.00 | Sell → Neutral | Guggenheim |
Critical Legislation Passed by Hawaii State Legislature HB 1001, Appropriating Funds for the State's Contribution to the Maui Wildfire Tort Litigation Settlement SB 897, Directing the Public Utilities Commission to Establish an Aggregate Liability Cap for Economic Damages from Future Wildfires SB 1501, Protecting Reliable, Affordable Clean Energy Procurement, Supporting Advancement Toward Hawaii's Decarbonization and RPS Goals Holding Company Completed Debt Reduction in April With Proceeds from American Savings Bank Sale Pacific Current Completed Sale of Largest Asset, Hamakua Energy; Quarter's Results Reflect $13 Million Pre-tax Loss on Sale of Hamakua Hawaiian Electric Indu
Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) will announce its first quarter 2025 financial results on Friday, May 9 and conduct a webcast and conference call to discuss the results at 10:30 a.m. Hawaii time (4:30 p.m. Eastern time). To listen to the conference call, dial 1-888-660-6377 (U.S.) or 1-929-203-0797 (international) and enter passcode 2393042. Parties may also access presentation materials and/or listen to the conference call by visiting the conference call link on HEI's website at www.hei.com under "Investor Relations," sub-heading "News and Events – Events and Presentations." A replay will be available online and via phone. The online replay will be available on HEI's
Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE), the parent company of Pacific Current, LLC (Pacific Current), today announced the closing of the sale of Pacific Current's 60-megawatt Hamakua Energy Plant on Hawaiʻi Island to a subsidiary of Harbert Management Corporation (Harbert). The transaction is not expected to be material to HEI's financial statements. Sale of the plant is a key step in HEI's previously announced review of strategic options for Pacific Current. The strategic review process for other Pacific Current assets is ongoing. Harbert is a longstanding owner and operator of power generating facilities, including in Hawaiʻi, where it has had an ownership stake in the 208
Favorable Hawaii Supreme Court Decision Provides Clarity Needed to Help Finalize Maui Tort Litigation Settlement Strong Execution on Strategic Priorities in a Pivotal Year Definitive Settlement Agreements Reached in Maui Wildfire Tort Litigation Sale of 90.1% of American Savings Bank Simplified HEI's Strategy and Regulatory Position While Allowing Enhanced Focus on Utility Business; Proceeds Will Be Used to Reduce Debt Rapid Implementation of Utility Wildfire Mitigation Efforts: Grid Hardening and Redesign, Improved Situational Awareness and Operational Practices, and Enhanced Stakeholder Engagement Efforts Implemented to Reduce Risk Utility Achieved a 36% Renewable Portfolio Sta
Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) will announce its fourth quarter and full year 2024 financial results on Friday, February 21 and conduct a webcast and conference call to discuss the results at 11:30 a.m. Hawaii time (4:30 p.m. Eastern time). To listen to the conference call, dial 1-888-660-6377 (U.S.) or 1-929-203-0797 (international) and enter passcode 2393042. Parties may also access presentation materials and/or listen to the conference call by visiting the conference call link on HEI's website at www.hei.com under "Investor Relations," sub-heading "News and Events – Events and Presentations." A replay will be available online and via phone. The online replay wil
Sale simplifies HEI's strategy and regulatory position, allowing HEI to focus on core utility business and regaining financial strength Enables American Savings Bank to continue strong performance and best-in-class service for Hawaii customers Bank to maintain its current local leadership team, branches and brand HEI to use proceeds to reduce debt, increasing flexibility for funding wildfire settlement contributions and key utility initiatives, while reducing equity needs Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) today announced the closing of the sale of 90.1% of the common stock of American Savings Bank, F.S.B (ASB), previously its wholly owned subsidiary, to indep
Operational changes, new technology and Public Safety Power Shutoff lead to estimated 60% reduction in wildfire risk from utility equipment Since launching its expanded wildfire safety strategy one year ago, Hawaiian Electric Company, Inc. ("Hawaiian Electric"), a subsidiary of Hawaiian Electric Industries, Inc. (NYSE:HE) ("HEI"), has made significant improvements that have reduced the wildfire risk from its equipment. Its actions include a Public Safety Power Shutoff (PSPS) program, replacing and testing thousands of utility poles, upgrading miles of overhead power lines, clearing intrusive vegetation near electrical equipment, and installing weather stations and AI-assisted high definit
Signed Settlement Agreements a Key Milestone in Efforts to Regain HEI's Financial Strength 2Q Going Concern Matter Resolved Utility and Bank Operations Remain Solid On November 4, HEI and Other Parties Finalized the Settlement Agreements to Resolve the Maui Wildfire Tort Litigation 3Q24 Net Loss of $104.4 million, or $0.91 Per Share, Includes an Additional $203.0 million ($150.7 million after tax) Accrual for Estimated Wildfire Liabilities From Tort-Related Legal Claims1, and a $35.2 million ($26.1 million after tax) Asset Impairment at Pacific Current Excluding the Additional Accrual of Estimated Wildfire Liabilities, Pacific Current Asset Impairment and Other Maui Wildfire-Related
3Q 2024 Net Income of $18.8 million Net interest margin expanded to 2.82%, up 3 basis points from the prior quarter Continued strong credit quality and capital position American Savings Bank, F.S.B. (ASB), a wholly owned subsidiary of Hawaiian Electric Industries, Inc. (NYSE - HE), today reported third quarter 2024 net income of $18.8 million, compared to a net loss of $45.8 million in the second quarter of 2024 and net income of $11.4 million in the third quarter of 2023. Core net income1 for the quarter was $19.4 million, compared to $20.7 million in the second quarter and $17.6 million in the third quarter of last year. "American Savings Bank continues to perform well, generating
Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) will announce its third quarter 2024 financial results on Friday, November 8 and conduct a webcast and conference call to discuss the results at 11:30 a.m. Hawaii time (4:30 p.m. Eastern time). In addition, American Savings Bank, F.S.B. (ASB), a wholly owned indirect subsidiary of HEI, will announce its third quarter 2024 financial results on Wednesday, October 30. To listen to the conference call, dial 1-888-660-6377 (U.S.) or 1-929-203-0797 (international) and enter passcode 2393042. Parties may also access presentation materials and/or listen to the conference call by visiting the conference call link on HEI's website at www.hei.com u