Hawaiian Electric Industries Inc. (HE)
Hawaiian Electric price target raised to $11 from $9 at Evercore ISI
Evercore ISI raised the firm's price target on Hawaiian Electric to $11 from $9 and keeps an In Line rating on the shares. With Q3 results, Hawaiian was able to reclassify its short-term liability with a plan to pay the proposed settlement in four equal annual installments and the company revised its total settlement accrual to $1.92B, classifying the first $479M installment as a current liability based on expected timing of the payment, and the remaining amount as a non-current liability, the analyst noted. Management has concluded that the conditions that led to the substantial doubt regarding Hawaiian's ability to continue as a going concern have been mitigated and the resolution of its "going concern" risk alleviates a financing timeline crunch, the analyst tells investors.
Hawaiian Electric Industries, Inc. (HE) Q3 2024 Earnings Call Transcript
Hawaiian Electric Industries, Inc. (NYSE:HE ) Q3 2024 Earnings Conference Call November 8, 2024 4:30 PM ET Company Participants Mateo Garcia - Director, Investor Relations Scott Seu - President and Chief Executive Officer Scott DeGhetto - Executive Vice President, Chief Financial Officer and Treasurer Joseph Viola - Senior Vice President, Customer, Legal and Regulatory Affairs Paul Ito - Senior Vice President, Chief Financial Officer and Treasurer Conference Call Participants Michael Lonegan - Evercore ISI Jonathan Reeder - Wells Fargo Operator Good afternoon. My name is Audra, and I will be your conference operator today.
Hawaiian Electric (HE) Stock Experiences Significant Price Drop Amid Negative Earnings Report
Hawaiian Electric (HE, Financial) recently witnessed a sharp decline in its stock price, dropping by 5.02% to $9.28 per share. The trading volume reached 1.65725 million shares with a turnover rate of 0.96% and a price amplitude of 4.96%.
Hawaiian Electric Industries, Inc. (HE) Q2 2024 Earnings Call Transcript
Hawaiian Electric Industries, Inc. (NYSE:HE ) Q2 2024 Earnings Conference Call August 9, 2024 4:30 PM ET Company Participants Mateo Garcia - Director, IR Scott Seu - President and CEO Scott DeGhetto - EVP, CFO and Treasurer Paul Ito - SVP, CFO and Treasurer Conference Call Participants Michael Lonegan - Evercore Jonathan Reeder - Wells Fargo Operator Good afternoon. My name is Audra, and I will be your conference operator today.
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Why Is Hawaiian Electric (HE) Stock Up 15% Today?
Hawaiian Electric (NYSE: HE ) stock is up on Wednesday as the reports spread that Maui County is preparing to offer a settlement to those affected by the 2023 Maui fires. According to these reports, the county is weighing a settlement for thousands of people affected by the fires.
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Utility stocks have historically been defensive, dividend-focused plays, but so far this year, utilities have become a hot sector among more aggressive investors. This is largely because of the impact of the AI revolution on electricity demand.
Amalgamated Bank Purchases 13,681 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)
Amalgamated Bank increased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) by 82.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,323 shares of the utilities provider’s stock after purchasing an additional 13,681 shares during the period. Amalgamated Bank’s holdings in Hawaiian Electric Industries were worth $430,000 as of its most recent filing with the SEC. Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. lifted its stake in shares of Hawaiian Electric Industries by 4.4% during the 4th quarter. Victory Capital Management Inc. now owns 40,311 shares of the utilities provider’s stock worth $572,000 after buying an additional 1,700 shares during the last quarter. Brighton Jones LLC acquired a new stake in Hawaiian Electric Industries during the fourth quarter worth approximately $224,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Hawaiian Electric Industries by 9.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 201,328 shares of the utilities provider’s stock worth $2,857,000 after acquiring an additional 18,027 shares during the period. GAMMA Investing LLC acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at approximately $67,000. Finally, CWM LLC increased its stake in shares of Hawaiian Electric Industries by 40.0% during the fourth quarter. CWM LLC now owns 10,460 shares of the utilities provider’s stock worth $148,000 after purchasing an additional 2,990 shares during the period. Institutional investors own 59.91% of the company’s stock. Analyst Upgrades and Downgrades A number of brokerages have commented on HE. Evercore ISI upped their price objective on Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a report on Thursday, February 15th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company lifted their price objective on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.63. Read Our Latest Analysis on HE Hawaiian Electric Industries Stock Performance HE opened at $11.50 on Monday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.13 and a current ratio of 0.11. Hawaiian Electric Industries, Inc. has a 52-week low of $8.74 and a 52-week high of $40.16. The firm has a market cap of $1.27 billion, a P/E ratio of 6.80 and a beta of 0.55. The business’s fifty day moving average is $10.78 and its 200-day moving average is $12.39. Hawaiian Electric Industries Company Profile (Free Report) Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. 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.
