Hawaiian Electric Reports Strong Utility and Bank Earnings; PBR Remains Concern
We are reaffirming our narrow economic moat and our $34 per share fair value estimate after Hawaiian Electric Industries reported strong 2018 second-quarter earnings, reaffirmed 2018 guidance, and discussed recent regulatory activity with respect to performance-based ratemaking, or PBR. EPS in the second quarter was $0.42 versus $0.36 in the same period last year.Hawaiian Electric reaffirmed its full-year EPS guidance range of $1.80-$2.00, and our full-year estimate of $1.90 is unchanged. As ex...
Hawaiian Electric Industries is a holding company with its subsidiaries principally engaged in electric utility, banking, and renewable/sustainable infrastructure investment businesses operating in the State of Hawaii. The company and its operating utility subsidiaries, Hawaii Electric Light Company, Inc.and Maui Electric Company, Limited are regulated electric public utilities that provide essential electric service to Hawaii's population through the operation of five separate grids that serve communities on the islands of Oahu, Hawaii, and Maui, Lanai and Molokai. The company also owns ASB Hawaii, Inc. and its subsidiary, American Savings Bank, F.S.B., a financial institution in the State of Hawaii.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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