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Hawaiian Electric Industries Inc HE

Morningstar Rating
$12.66 −0.09 (0.71%)
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Company Report

Hawaiian Electric Earnings: State Legislative Efforts Key to Company's Future

We are maintaining our $13 per share fair value estimate after Hawaiian Electric Industries reported full-year operating earnings of $2.04 per share compared with $2.14 in 2022. Operating earnings exclude $14 million of wildfire-related expenses and an $11 million loss on a sale of securities to reposition the bank's balance sheet. Hawaiian Electric suspended its dividend last year.

Price vs Fair Value

HE is trading at a 3% discount.
Price
$12.66
Fair Value
$52.00
Uncertainty
Extreme
1-Star Price
$73.00
5-Star Price
$5.13
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Regulation in Hawaii has improved with performance-based ratemaking reducing earnings volatility while offering opportunities for management to earn incentives.

Bears

Wildfires in Hawaiian Electric's service territory have significantly increased investor risk. If Hawaiian Electric is found responsible for the damages, shareholders will face years of uncertainty and the risk for significant losses.

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News

Trading Information

Previous Close Price
$12.75
Day Range
$12.6112.82
52-Week Range
$9.0641.24
Bid/Ask
$12.65 / $12.68
Market Cap
$1.39 Bil
Volume/Avg
1.5 Mil / 2.4 Mil

Key Statistics

Price/Earnings (Normalized)
6.59
Price/Sales
0.37
Dividend Yield (Trailing)
8.53%
Dividend Yield (Forward)
Total Yield
8.53%

Company Profile

Hawaiian Electric Industries is the parent company of three Hawaii-based regulated utilities and Hawaii's American Savings Bank. The utilities provide electricity on the five islands of Oahu, Hawaii, Maui, Molokai, and Lanai. Nearly 40% of electricity in its service territory comes from renewable energy; this portion is growing rapidly as the state has set a goal of 100% by 2045.
Sector
Utilities
Industry
Utilities - Regulated Electric
Stock Style Box
Small Value
Total Number of Employees
3,756

Competitors

Valuation

Metric
HE
AEE
PNW
Price/Earnings (Normalized)
6.5915.5915.92
Price/Book Value
2.591.631.19
Price/Sales
0.372.271.61
Price/Cash Flow
2.666.374.64
Price/Earnings
HE
AEE
PNW

Financial Strength

Metric
HE
AEE
PNW
Quick Ratio
23.300.260.45
Current Ratio
23.360.521.10
Interest Coverage
3.283.392.71
Quick Ratio
HE
AEE
PNW

Profitability

Metric
HE
AEE
PNW
Return on Assets (Normalized)
1.27%2.97%2.01%
Return on Equity (Normalized)
9.46%10.75%7.71%
Return on Invested Capital (Normalized)
5.24%6.03%4.63%
Return on Assets
HE
AEE
PNW
See how this stock stacks up to its competitors with Morningstar Investor

Utilities - Regulated Electric Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Economic Moat
Market Cap
NEE
NextEra Energy IncQphwr$116.5 Bil
SO
Southern CoRpcqjl$73.8 Bil
DUK
Duke Energy CorpWtjbn$71.5 Bil
NGG
National Grid PLC ADRVhk$48.7 Bil
PCG
PG&E CorpYymx$44.5 Bil
AEP
American Electric Power Co IncYklzpwr$43.4 Bil
D
Dominion Energy IncBhcypfg$40.1 Bil
EXC
Exelon CorpYtplt$36.1 Bil
XEL
Xcel Energy IncLjgkhtn$32.9 Bil
ED
Consolidated Edison IncHdrv$30.4 Bil

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