Hawaiian Electric Industries (NYSE:HE) Issues Earnings Results

Hawaiian Electric Industries (NYSE:HE) issued its quarterly earnings data on Friday. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24, Zacks reports. The business had revenue of $805.82 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%.

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

• Maui wildfire settlement moved materially forward — the Hawaii Supreme Court affirmed denial of insurer intervention, the circuit court granted summary judgment on insurers’ direct claims, and the class settlement has final approval steps remaining, bringing the company closer to triggering the first payment.
• Financial results improved sharply with 2025 net income of $123.1 million (core consolidated net income $149.3 million), stable customer bills in 2025, and material liquidity on hand at both the holding company and utility.
• The first $479 million settlement payment is expected only after outstanding appeals are resolved and now targeted for the second half of 2026, with HEI planning to fund subsequent settlement payments via debt or convertible debt (currently leaning toward convertibles), which could increase leverage or dilute shareholders.
• Management reiterated elevated capital spending — 2026 CapEx $550M–$700M and higher spend in 2027–2028 — and outlined a March 6 joint PBR rebasing proposal (with PBR Phase 6/PIM redesign and potential securitization for wildfire safety) to address rate design and affordability amid the large investment cycle.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $15.45 on Friday. Hawaiian Electric Industries has a 1-year low of $9.06 and a 1-year high of $17.38. The company’s 50-day moving average is $14.69 and its 200 day moving average is $12.72. The firm has a market capitalization of $2.67 billion, a P/E ratio of 193.15 and a beta of 0.63. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its holdings in Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,998 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,365 shares during the period. Larson Financial Group LLC boosted its stake in shares of Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Hawaiian Electric Industries by 334.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,983 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Hawaiian Electric Industries by 461.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,163 shares of the utilities provider’s stock worth $39,000 after buying an additional 2,600 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HE. Barclays lifted their price objective on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Zacks Research raised shares of Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $13.17.

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.