Hawaiian Electric Industries, Inc. (HE)

In the past six months, Hawaiian Electric Industries' stock has been impacted by several key events, including the release of financial results and the finalization of the Maui Wildfire tort settlement. The stock price increased by 47.68% between May 5, 2025, and May 1, 2026. HEI and Hawaiian Electric made the first of four $479 million annual settlement payments in April 2026, leading to Moody's upgrading the utility's credit rating. Despite increased revenues, the first quarter of 2026 saw core earnings per share remain flat year-over-year at $0.18, primarily due to higher operations and maintenance expenses. Analysts have generally given the stock a "hold" rating, with a consensus target price of $13.25 as of May 9, 2026.

Electricity demand for Hawaiian Electric Industries' products and services exhibits seasonality, influenced by weather patterns and economic activity. Warmer weather in Hawaii leads to increased demand for air conditioning. In 2025, Hawaii experienced 9% more intense cooling days than in 2024, contributing to a 2.5% increase in overall electricity usage compared to the previous year. The continued economic recovery on Maui following the 2023 windstorm also contributed to this increase in electricity load.

Hawaiian Electric Industries, Inc. (HEI) is a diversified holding company primarily engaged in the electric utility business within Hawaii. Its main subsidiary, Hawaiian Electric Company, Inc., along with Hawai'i Electric Light Company, Inc. and Maui Electric Company, Limited, are responsible for electricity production, purchase, transmission, distribution, and sale. HEI invests in non-regulated renewable energy and sustainable infrastructure projects in Hawaii through Pacific Current LLC and is streamlining its enterprise to focus on its core utility business. The company's renewable energy sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels.

Hawaiian Electric Industries, Inc. serves approximately 95% of Hawaii's population. Its electric utility subsidiaries provide power across the islands of Oahu, Hawaii (the Big Island), Maui, Lanai, and Molokai. The island of Kauai is served by a different entity, the Kauai Island Utility Cooperative.

Hawaiian Electric Industries' brand reputation in the past year has been significantly impacted by the August 2023 Maui wildfires. The company has been actively involved in the tort litigation settlement related to these fires, reaching an agreement in principle and making the first settlement payment in April 2026. The company has also been working to reduce wildfire risk and harden power grids, investing approximately $200 million in wildfire mitigation since the fires. HEI emphasizes its long-standing commitment to sustainability and its efforts to decarbonize operations and modernize the grid, aiming for 100% renewable energy by 2045.

Hawaiian Electric Industries, Inc. is primarily owned by institutional shareholders, who hold approximately 80.65% of the stock. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, Horizon Kinetics Asset Management LLC, State Street Corp, Geode Capital Management, Llc, Morgan Stanley, Charles Schwab Investment Management Inc, Quantinno Capital Management LP, UBS Group AG, and T. Rowe Price Investment Management, Inc. Insiders own about 4.02% of the company, and retail investors hold approximately 15.33%. The largest individual shareholder is Eva T. Zlotnicka, owning 1.88% of the company's shares.