RAM Timing Slams 2Q Earnings; Focus Remains on Pending Rate Cases
We reaffirm our narrow economic moat and stable moat trend ratings, along with our fair value estimate of $30 per share after Hawaiian Electric Industries reported weak 2017 second-quarter core earnings, reaffirmed 2017 earnings guidance, and provided an update on pending regulatory matters. Our 2017 EPS estimate of $1.63 is unchanged and near the midpoint of the $1.55-$1.70 guidance.Core utility earnings in the 2017 second quarter were $0.24 per share versus $0.33 in the same period last year....
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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