Hawaiian Electric Industries (NYSE:HE) Issues Quarterly Earnings Results, Meets Estimates

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

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 Trading Down 0.3%

Shares of Hawaiian Electric Industries stock traded down $0.05 during trading on Friday, hitting $15.45. The stock had a trading volume of 4,064,862 shares, compared to its average volume of 3,189,937. The stock has a market cap of $2.67 billion, a PE ratio of 193.15 and a beta of 0.63. The firm’s fifty day simple moving average is $14.61 and its 200-day simple moving average is $12.69. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. Hawaiian Electric Industries has a 12 month low of $9.06 and a 12 month high of $17.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Hawaiian Electric Industries by 56.9% during the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock valued at $86,171,000 after acquiring an additional 2,540,134 shares during the last quarter. Geode Capital Management LLC grew its holdings in Hawaiian Electric Industries by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock valued at $50,750,000 after purchasing an additional 209,192 shares during the period. Dimensional Fund Advisors LP grew its position in Hawaiian Electric Industries by 7.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,106 shares of the utilities provider’s stock valued at $27,212,000 after acquiring an additional 150,347 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Hawaiian Electric Industries by 16.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,593,550 shares of the utilities provider’s stock valued at $19,601,000 after buying an additional 220,879 shares during the period. Finally, Bank of America Corp DE increased its stake in Hawaiian Electric Industries by 5.2% during the 3rd quarter. Bank of America Corp DE now owns 1,565,958 shares of the utilities provider’s stock valued at $17,288,000 after buying an additional 76,820 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

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

About Hawaiian Electric Industries

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.