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Hawaiian Electric Industries, Inc. - HE STOCK NEWS

Welcome to our dedicated page for Hawaiian Electric Industries news (Ticker: HE), a resource for investors and traders seeking the latest updates and insights on Hawaiian Electric Industries stock.

Hawaiian Electric Industries, Inc. (HE) is the leading electricity provider in Hawaii, delivering power to 95% of the state's population through its subsidiaries: Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc., and Maui Electric Company, Limited. The company operates on five islands, including Oahu, Hawaii, Maui, Molokai, and Lanai, ensuring reliable and sustainable energy for both residential and commercial customers.

Hawaiian Electric Industries is also the parent company of American Savings Bank, a prominent banking institution in Hawaii. Together, these entities focus on enhancing the quality of life for the communities they serve by fostering economic growth and environmental stewardship.

In recent developments, Hawaiian Electric Industries has undertaken several significant projects aimed at renewable energy integration and grid modernization. These initiatives are designed to reduce carbon emissions and increase the adoption of clean energy sources, aligning with Hawaii's ambitious goal of achieving 100% renewable energy by 2045.

A strong financial position supports Hawaiian Electric Industries' strategic vision, with steady revenue streams from both its utility operations and banking services. The company's commitment to innovation and sustainability is reflected in its ongoing partnerships with technology providers and renewable energy developers.

Hawaiian Electric Industries continues to play a vital role in Hawaii's infrastructure, ensuring energy security and contributing to the state's economic resilience. For investors and stakeholders, the company represents a stable opportunity with a focus on sustainable growth and community engagement.

News

Hawaiian Electric’s Waiau Repower Project Selected

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Hawaiian Electric Company, Inc. (HEI) has announced the selection of its proposal to replace aging fossil-fuel generators at its Waiau Power Plant with more efficient, fuel-flexible units. The 253-megawatt project is part of a competitive procurement process for firm renewable generation on Oʻahu, and will be the largest generation project in the company's 132-year history. The project aims to transition to cleaner renewable fuels and is expected to result in significant cost savings over 30 years.
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HEI Reports Third Quarter 2023 Results

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Hawaiian Electric Industries, Inc. (NYSE - HE) reported a 3Q23 net income of $41.1M and EPS of $0.37, with $27.6M of pre-tax Maui wildfire-related expenses. Core businesses are performing well, and ASB HONOLULU maintains solid credit quality and capital position.
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Hawaiian Electric supports One ‘Ohana Initiative with statewide partners to aid healing, path forward for Hawai';i

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Hawaiian Electric Industries, Inc. (NYSE: HE) announces the One 'Ohana Initiative, a $150 million fund to support families affected by the recent fires in Hawaii. The initiative provides expedited substantial payments to families who have lost a loved one or were severely injured, aiming to support their healing and a path forward. Hawaiian Electric will contribute up to $75 million to the fund, funded by insurance, not customers.
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American Savings Bank Reports Third Quarter 2023 Financial Results

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American Savings Bank, F.S.B. (ASB), a subsidiary of Hawaiian Electric Industries, reported 3Q 2023 net income of $11.4 million, compared to $20.2 million in 2Q 2023 and $20.8 million in 3Q 2022. Core net income for 3Q 2023 was $17.6 million. Net interest income was $62.6 million, and net interest margin was 2.70%. Provision for credit losses was $8.8 million. Noninterest income was $15.3 million, and noninterest expense was $56.3 million. Total loans were $6.2 billion, and total deposits were $8.2 billion. Return on average equity was 9.2%, and return on average assets was 0.47%. ASB had a Tier 1 leverage ratio of 7.7%.
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HEI to Announce Third Quarter 2023 Results November 9; American Savings Bank to Announce Third Quarter Results October 30

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Hawaiian Electric Industries, Inc. (HEI) will announce its Q3 2023 financial results on November 9. American Savings Bank, F.S.B. (ASB) will announce its Q3 2023 financial results on October 30. HEI will discuss earnings guidance and regulatory matters in a conference call.
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Hawaiian Electric Industries Announces CFO Appointments

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HEI announces leadership plans at Hawaiian Electric Company, with CFO Tayne Sekimura retiring on September 30, 2023. Paul Ito will serve as SVP, CFO & treasurer of Hawaiian Electric until approximately December 31, 2024. Scott DeGhetto appointed EVP, CFO & treasurer of HEI from October 1, 2023, through December 31, 2024. Positive: Smooth transition in leadership. Negative: No significant negative impact expected.
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Hawaiian Electric Provides Update on Lahaina Fires, Response

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Hawaiian Electric responds to lawsuit filed by County of Maui regarding fires in West Maui. Power lines were de-energized at the time of the second fire. Company stands ready to work with communities. Lawsuit may leave no choice but to show responsibility in legal system.
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HEI Reports Second Quarter 2023 Results

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Hawaiian Electric Industries (HEI) reported a net income of $54.6 million and diluted EPS of $0.50 for Q2 2023. The utility grew net income to $45.3 million and the bank, American Savings Bank (ASB), delivered solid results with net income of $20.2 million. HEI's utility is executing well on its capital plan and ASB's credit quality remains strong. HEI declared a quarterly cash dividend of $0.36 per share.
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HEI Declares Quarterly Dividend of $0.36 Per Share

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Hawaiian Electric Industries, Inc. (HEI) has declared a quarterly cash dividend of $0.36 per share, payable on September 8, 2023. The dividend is equivalent to an annual rate of $1.44 per share. HEI's dividend yield is 3.8% based on the closing share price on August 3, 2023.
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American Savings Bank Reports Second Quarter 2023 Financial Results

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American Savings Bank, F.S.B. (ASB), a subsidiary of Hawaiian Electric Industries, Inc., reported a net income of $20.2 million for the second quarter of 2023, compared to $18.6 million in the previous quarter. The company's credit quality remains strong, with a solid capital position and ample liquidity. Net interest income was $63.2 million, and noninterest income was $15.6 million. Total loans increased by 2.7% to $6.1 billion, while total deposits slightly decreased to $8.2 billion. ASB paid dividends of $11.0 million to HEI.
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FAQ

What is the current stock price of Hawaiian Electric Industries (HE)?

The current stock price of Hawaiian Electric Industries (HE) is $9.45 as of January 2, 2025.

What is the market cap of Hawaiian Electric Industries (HE)?

The market cap of Hawaiian Electric Industries (HE) is approximately 1.6B.

What is Hawaiian Electric Industries, Inc.?

Hawaiian Electric Industries, Inc. is the largest electricity supplier in Hawaii, serving 95% of the state's population. It also owns American Savings Bank.

What areas does Hawaiian Electric Industries serve?

The company provides electricity on Oahu, Hawaii, Maui, Molokai, and Lanai.

What are the subsidiaries of Hawaiian Electric Industries?

Its subsidiaries include Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc., Maui Electric Company, Limited, and American Savings Bank.

What recent projects has Hawaiian Electric Industries undertaken?

The company has launched projects focused on renewable energy integration and grid modernization to meet Hawaii's renewable energy goals.

What is Hawaiian Electric Industries' goal for renewable energy?

The company aims to help Hawaii achieve 100% renewable energy by 2045.

How does Hawaiian Electric Industries support sustainability?

Through partnerships with technology providers and renewable energy developers, the company focuses on reducing carbon emissions and increasing clean energy adoption.

How does Hawaiian Electric Industries contribute to the community?

The company enhances quality of life through reliable electricity, economic growth, and environmental stewardship, supported by its banking services.

What is the role of American Savings Bank under Hawaiian Electric Industries?

American Savings Bank provides a broad range of banking services and supports the economic resilience of Hawaiian communities.

What is the financial condition of Hawaiian Electric Industries?

The company has a strong financial position with stable revenue streams from utility operations and banking services.

Why should investors consider Hawaiian Electric Industries?

The company offers a stable investment opportunity focused on sustainable growth, innovation, and community engagement.
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Hawaiian Electric Industries, Inc.

NYSE:HE

HE Rankings

#2122 Ranked by Market Cap
N/A Ranked by Dividends

HE Stock Data

1.64B
172.12M
0.21%
69.56%
6.19%
Utilities - Regulated Electric
Electric Services
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United States of America
HONOLULU