Hawaiian Electric Industries (NYSE:HE) Announces Quarterly Earnings Results, Hits Estimates

Hawaiian Electric Industries (NYSE:HE) released its quarterly earnings data on Friday. The utilities provider reported $0.24 earnings per share 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 business had revenue of $805.82 million for 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 Stock Performance

Shares of NYSE HE traded down $0.05 during midday trading on Friday, reaching $15.45. 4,064,862 shares of the company traded hands, compared to its average volume of 3,189,937. Hawaiian Electric Industries has a 52 week low of $9.06 and a 52 week high of $17.38. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a 50-day moving average price of $14.61 and a 200 day moving average price of $12.69. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 193.15 and a beta of 0.63.

Analyst Upgrades and Downgrades

HE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Zacks Research upgraded shares of Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Barclays boosted their price objective on Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Finally, Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price objective for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.17.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Comerica Bank grew its holdings in shares of Hawaiian Electric Industries by 45.0% in the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,886 shares during the last quarter. Royal Bank of Canada increased its holdings in Hawaiian Electric Industries by 51.9% during the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock worth $4,159,000 after purchasing an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hawaiian Electric Industries by 16.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 17,158 shares in the last quarter. Empowered Funds LLC grew its stake in Hawaiian Electric Industries by 12.9% in the first quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 3,060 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Hawaiian Electric Industries by 36.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock valued at $5,380,000 after acquiring an additional 132,321 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

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.