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

Exchange

NYSE

Website

www.hei.com/

CEO

Constance Lau

Incorporated

Hawaii

Location

Hawaii

Fiscal year end

Dec 31

Sector

Utilities > Nuclear Electric Power Generation

Industry (SIC)

Electric Services

Duke Energy Indiana • NextEra Energy • Alabama Power • Exelon Generation • Edison International • Constellation Energy • Duke Energy Carolinas • Dominion Energy • Tennessee Valley Authority • Virginia Electric & Power ...

SEC CIK

0000354707

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

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

1M 1Y 5Y

News

From Benzinga Pro

Benzinga's Top Ratings Upgrades, Downgrades For August 18, 2022

18 Aug 22

B of A Securities Downgrades Hawaiian Electric Indus to Underperform, Announces $43 Price Target

18 Aug 22

B of A Securities analyst Julien Dumoulin-Smith downgrades Hawaiian Electric Indus (NYSE:HE) from Neutral to Underperform and announces $43 price target.

Hawaiian Electric: Dividend Insights

12 Aug 22

Tuesday marks the last chance for investors to receive the next dividend payout from Hawaiian Electric Indus (NYSE:HE).

Recap: Hawaiian Electric Q2 Earnings

8 Aug 22

Hawaiian Electric Indus Q2 EPS $0.48 Misses $0.52 Estimate, Sales $895.61M Beat $672.33M Estimate

8 Aug 22

Press releases

From Benzinga Pro

HEI REPORTS SECOND QUARTER 2022 RESULTS

8 Aug 22

2Q22 Net Income of $52.5M and Diluted Earnings Per Share (EPS)1 of $0.48 Utility Performing Well Despite Inflationary Environment Bank Results Reflect Strong Loan Growth, Expanding Net Interest Margin, Favorable Credit

HEI DECLARES QUARTERLY DIVIDEND OF $0.35 PER SHARE

4 Aug 22

HONOLULU, Aug. 4, 2022 /PRNewswire/ -- On August 4, 2022, the Board of Directors of Hawaiian Electric Industries, Inc. (HEI) (NYSE-HE) declared HEI's quarterly cash dividend of $0.35 per share, payable September 9,

AMERICAN SAVINGS BANK REPORTS SECOND QUARTER 2022 FINANCIAL RESULTS

29 Jul 22

2Q 2022 Net Income of $17.5 million Strong Loan Growth, Expanding Net Interest Margin, Favorable Credit Trends and More Normalized Provision HONOLULU, July 29, 2022 /PRNewswire/ -- American Savings Bank, F.S.B. (ASB), a

Michael J. Kennedy named to Hawaiian Electric Industries board of directors

19 Jul 22

HEI TO ANNOUNCE SECOND QUARTER 2022 RESULTS AUGUST 8; AMERICAN SAVINGS BANK TO ANNOUNCE SECOND QUARTER RESULTS JULY 29

15 Jul 22

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

Financial summary

Financial statements Chart HE financial data

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

Financial data from company earnings reports.

Recent insider trades

HE insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
1 Aug 22	Michael J. Kennedy	Common Stock	Grant	Acquire A	No	No	965	8,989
30 Jun 22	Connors Celeste Anne	Common Stock	Grant	Acquire A	No	No	2,933	10,367
30 Jun 22	Kane Micah A.	Common Stock	Grant	Acquire A	No	No	2,933	17,100
30 Jun 22	Elisia Flores	Common Stock	Grant	Acquire A	No	No	2,933	9,417

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q2 2022

HE institutional ownership history Ownership history

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%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Financial report summary

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.

Content analysis

Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability	H.S. sophomore Avg

New words: ac, aforementioned, air, Asia, asymmetrical, attempt, booster, bridge, checkout, comply, coupon, coverage, CSSM, desire, detailed, Disease, displacement, disposition, drew, enlargement, Fast, feedstock, flight, fluctuate, formula, gap, Green, guarantor, Hybrid, IIJA, incentivize, kV, lieu, machinery, milestone, modestly, nonrefundable, overhead, properly, recession, reclassified, reclassify, relocation, requisite, SDP, shorter, simple, slightly, speculative, SSM, subtractive, swap, switchyard, tight, timeframe, transpired, unsupported, upcoming, Waena, wave

Removed: advancing, catalyst, concurrent, Delta, DOH, embedded, encompassed, esg, essential, explicitly, human, indexed, inextricably, influence, isolated, loosening, middle, misunderstanding, Mod, Nominating, Ocean, prolonged, reaching, Reform, REIP, responsibility, Robust, SASB, scenario, served, steadily, Street, sustainability, Task, temperature, understand, variant, voluntarily, Wall, woven

From filing 10-Q 2022 Q2

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