Last Updated: 16 Oct 2024
Executive Summary
Hawaiian Electric Industries Inc. (HE) is a publicly traded company that operates in the energy and transportation sector. The company has a market capitalization of $1.79 billion and is headquartered in Honolulu, Hawaii. HE's stock price has been relatively stable in recent months, trading between $10 and $12 per share.
Company Overview
HE is engaged in the renewable/sustainable infrastructure, banking, and electricity utility investment businesses in the State of Hawaii. The company's principal subsidiary, Hawaiian Electric Company, Inc. (HECO), is the largest electric utility in Hawaii, serving over 95% of the state's population. HE also owns American Savings Bank, Hawaii's largest locally based bank.
Fundamental Analysis
HE's financial performance has been mixed in recent years. The company's revenue has grown steadily, but its earnings have been volatile. In 2022, HE reported a net loss of $115.4 million, compared to a net income of $121.6 million in 2021. The company's earnings were impacted by a number of factors, including rising fuel costs and increased competition.
HE's balance sheet is relatively strong. The company has a low level of debt and a strong cash position. However, HE's return on equity (ROE) has been negative in recent years, indicating that the company is not generating a sufficient return on its investments.
Technical Analysis
HE's stock price has been trading in a range between $10 and $12 per share for the past several months. The stock's 50-day moving average is currently at $11.57, and its 200-day moving average is at $11.74. The stock's relative strength index (RSI) is currently at 50, indicating that the stock is neither overbought nor oversold.
Short Term Outlook
HE's stock price is likely to remain range-bound in the near term. The company's financial performance is expected to be mixed, and there are no major catalysts on the horizon. Investors should consider buying HE stock if it falls below $10 per share.
Long Term Outlook
HE's long-term outlook is positive. The company is well-positioned to benefit from the growing demand for renewable energy. HE is also investing in new technologies, such as smart grids and electric vehicles. Investors should consider buying HE stock for the long term.
Analyst Recommendations
Analysts are mixed on HE stock. One analyst has a "hold" rating on the stock, while another has a "sell" rating. The average analyst target price for HE stock is $10.25.
