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Hawaiian Electric Industries (HE)

Hawaiian Electric Industries, Inc. is a holding company, which through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment involves in the generation, purchase, transmission, distribution, and sale of electric energy in the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai. The Bank segment offers general banking services to individual and business customers through its branch system. The Other segment refers to corporate-level operating, general, and administrative expenses. The company was founded by C. Dudley Pratt Jr. in 1981 and is headquartered in Honolulu, HI.

Company profile

Ticker
HE
Exchange
Website
CEO
Constance Lau
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Hawaiian Electric Company, Inc. • Maui Electric Company, Limited • Hawaii Electric Light Company, Inc. • Renewable Hawaii, Inc. • ASB Hawaii, Inc. • The Old Oahu Tug Service, Inc. • Pacific Current, LLC • Hamakua Holdings, LLC • Hamakua Energy, LLC • Mauo, LLC ...
IRS number
990208097

HE stock data

Analyst ratings and price targets

Last 3 months

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

8 Aug 22
18 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 165.06M 165.06M 165.06M 165.06M 165.06M 165.06M
Cash burn (monthly) 47.52M 7.75M (no burn) (no burn) 5.98M (no burn)
Cash used (since last report) 78.35M 12.78M n/a n/a 9.86M n/a
Cash remaining 86.71M 152.28M n/a n/a 155.2M n/a
Runway (months of cash) 1.8 19.6 n/a n/a 25.9 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Aug 22 Michael J. Kennedy Common Stock Grant Acquire A No No 0 965 0 8,989
30 Jun 22 Connors Celeste Anne Common Stock Grant Acquire A No No 0 2,933 0 10,367
30 Jun 22 Kane Micah A. Common Stock Grant Acquire A No No 0 2,933 0 17,100
30 Jun 22 Elisia Flores Common Stock Grant Acquire A No No 0 2,933 0 9,417
13F holders Current Prev Q Change
Total holders 325 336 -3.3%
Opened positions 33 49 -32.7%
Closed positions 44 41 +7.3%
Increased positions 129 116 +11.2%
Reduced positions 83 95 -12.6%
13F shares Current Prev Q Change
Total value 2.39B 2.43B -1.6%
Total shares 57.06M 57.35M -0.5%
Total puts 6.9K 4.9K +40.8%
Total calls 19.6K 17.8K +10.1%
Total put/call ratio 0.4 0.3 +27.9%
Largest owners Shares Value Change
Vanguard 11.77M $481.43M +2.1%
BLK Blackrock 9.75M $398.73M +4.3%
Nordea Investment Management Ab 4.17M $169.41M +0.1%
STT State Street 3.74M $152.89M +0.5%
First Trust Advisors 1.93M $78.79M +8.9%
BK Bank Of New York Mellon 1.58M $64.52M +6.3%
Allspring Global Investments 1.54M $63.03M -26.2%
Geode Capital Management 1.52M $61.99M +3.8%
Charles Schwab Investment Management 1.25M $51.14M +3.7%
Dimensional Fund Advisors 1.2M $48.99M +1.6%
Largest transactions Shares Bought/sold Change
Parametric Portfolio Associates 0 -577.81K EXIT
Allspring Global Investments 1.54M -547.14K -26.2%
MS Morgan Stanley 815.27K +544.03K +200.6%
LGEN Legal & General 0 -521.74K EXIT
BLK Blackrock 9.75M +400.61K +4.3%
PRU Prudential Financial 60.98K -308.89K -83.5%
Beck Bode 0 -265.64K EXIT
Vanguard 11.77M +243.77K +2.1%
Renaissance Technologies 400.1K +195.4K +95.5%
Point72 Asset Management 201.4K +174.3K +643.2%

Financial report summary

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Management Discussion
  • Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Recent developments. In the second quarter of 2022, Hawaii’s 7-day average daily COVID-19 case counts peaked at 1,258 cases and case counts have since receded, recently averaging below 600 cases per day (7-day daily average). Hospitalizations have remained at low levels with approximately 77% of the state’s population fully vaccinated, and approximately 44% of those fully vaccinated received the first booster shot as of July 26, 2022. On March 25, 2022, Hawaii ended its Safe Travels program for domestic U.S. travelers and its indoor mask mandate. On June 12, 2022, the U.S. Centers for Disease Control and Prevention ended the requirement that required air passengers traveling from a foreign country to the United States to show a negative COVID-19 test before boarding their flight.
  • As a result of the removal of COVID restrictions, domestic tourism has recovered to pre-pandemic levels with June 2022 domestic passenger counts up more than 5% of the domestic passenger counts in June 2019. However, the number of international travelers remains below pre-pandemic levels with June 2022 passenger counts down approximately 72% from the total number of international travelers in June 2019.

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