Hawaiian Electric Industries (HE)
Runs regulated electric grids across five Hawaiian islands.
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Generates, buys, transmits and sells electricity through regulated utilities serving five Hawaiian islands. Revenue is almost entirely utility-derived, while separate island grids, fuel and purchased-power dependence, state regulation, renewable mandates and Maui wildfire settlement payments shape the business.
Owns regulated electric utilities that generate, purchase, transmit, distribute and sell power on Oahu, Hawaii Island, Maui, Lanai and Molokai. Hawaiian Electric Company, Hawaii Electric Light and Maui Electric operate five isolated grids serving most of Hawaii's population. The portfolio now centers on the utility after the sale of American Savings Bank and most nonutility assets, with a small remaining renewable-infrastructure holding.
Operations center on reliable electricity delivery, renewable and storage procurement, customer-sited energy integration, grid modernization and wildfire mitigation. Earnings and cash flow depend on Hawaii Public Utilities Commission rate treatment, access to fuel and purchased power, and financing for the Maui wildfire settlement. Separate island grids cannot import power from one another, while oil-fired generation and statutory renewable-energy targets shape investment needs.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Jefferies | Target | Target: $11.75 | Target: $8.75 |
| Aug 11, 2026 | Barclays | Reiterate | Rating: —Target: $13 | Target: $12 |
| Jul 6, 2026 | Jefferies | Reiterate | Rating: —Target: $12.50 | Target: $11.75 |
| Jan 26, 2026 | Barclays | Reiterate | Rating: —Target: $11 | Target: $13 |
| Jan 20, 2026 | Jefferies | Downgrade | Target: $12 | Target: $12.50 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $238.7M · Total debt $2.82B · Total assets $8.40B · Shareholders' equity $1.76B
- Revenue
- $939.7M
- Operating income
- $204.2M
- Net income
- $123.2M
HistoryDividendAnnual yield
| Institutions | 76.61% | 146.00M shares | |
|---|---|---|---|
| 348 holders · as of Jun 30, 2026 | |||
| Insiders | 0.29% | 554.6K shares | |
| 15 holders · as of Jul 2, 2026 | |||
| Other | 23.10% | 44.03M shares | |
| remainder | |||
190.58M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (190.58M in the company's Sep 22, 2026 report, 172.64M elsewhere); stakes use the report.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 13.90% | 26.48M | as of Jun 30, 2026 |
Horizon Kinetics Asset Management LLCInstitution | 11.75% | 22.40M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 5.44% | 10.37M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.92% | 7.48M | as of Jun 30, 2026 |
State Street CorpInstitution | 3.77% | 7.18M | as of Jun 30, 2026 |
Insider tradesForm 4
No open-market trades in the last 12 months.
- PG&E
Wildfire-risk utility peer for safety rebuild and rate recovery.
- Edison International
California wildfire and grid-hardening peer.
- AES
Utility-scale renewables and storage pressure island procurement.
- NextEra Energy
Scale benchmark for regulated utility renewables and storage.
- Sunrun
Customer-sited solar and storage substitute for grid purchases.
- Portland General Electric
Regulated utility peer for clean energy, storage, and reliability.
- IDACORP
Regional regulated utility peer for reliability and resource transition.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hawaiian Electric Industries | $9.65 | +0.78% | $1.65B | 7.4 | 6.7 | 0.5 | +25.9% |
| PG&E | $12.98 | +0.31% | $34.68B | 9.4 | 7.8 | 1.3 | +0.1% |
| Edison International | $55.46 | +0.93% | $21.14B | 5.7 | 8.9 | 1.1 | −4.1% |
| AES | $14.84 | +0.07% | $10.58B | 5.6 | 7.7 | 0.8 | +19.9% |
| NextEra Energy | $79.49 | −0.18% | $166.11B | 17.9 | 19.6 | 5.7 | +12.5% |
| Sunrun | $8.78 | −0.06% | $2.10B | 5.9 | 13.8 | 0.6 | +52.8% |
| Portland General Electric | $47.75 | +1.44% | $5.45B | 20.6 | 12.9 | 1.6 | +0.9% |
| IDACORP | $130.67 | +0.15% | $7.55B | 21.6 | 19.8 | 4.2 | +4.2% |
| Median | 9.4 | 12.9 | 1.3 | +4.2% |