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

Hawaiian Electric Industries (NYSE:HE) released its earnings results on Friday. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24, Zacks reports. The firm had revenue of $805.82 million during 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 Down 0.3%

Shares of NYSE:HE traded down $0.05 during midday trading on Friday, reaching $15.45. The company had a trading volume of 4,064,862 shares, compared to its average volume of 3,189,937. Hawaiian Electric Industries has a one year low of $9.06 and a one year 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 market capitalization of $2.67 billion, a P/E ratio of 193.15 and a beta of 0.63. The stock’s fifty day moving average price is $14.61 and its 200-day moving average price is $12.69.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC acquired a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $175,000. Man Group plc acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at approximately $160,000. Meixler Investment Management Ltd. lifted its stake in Hawaiian Electric Industries by 23.0% during the fourth quarter. Meixler Investment Management Ltd. now owns 12,300 shares of the utilities provider’s stock worth $151,000 after purchasing an additional 2,300 shares during the last quarter. Cibc World Markets Corp acquired a new position in Hawaiian Electric Industries in the fourth quarter worth $142,000. Finally, Certuity LLC bought a new stake in Hawaiian Electric Industries during the third quarter valued at $136,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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