HE Stock Summary and Trading Ideas (Hawaiian Electric Industries | NYSE:HE)

Hawaiian Electric Industries is the parent company of three Hawaii-based regulated utilities and Hawaii's American Savings Bank. The utilities provide electricity on the five islands of Oahu, Hawaii, Maui, Molokai, and Lanai. Nearly 40% of electricity in its service territory comes from renewable energy; this portion is growing rapidly as the state has set a goal of 100% by 2045.

Hawaiian Electric Industries trades on the NYSE stock market under the symbol HE.

As of May 3, 2024, HE stock price climbed to $10.44 with 1,656,077 million shares trading.

HE has a beta of 2.48, meaning it tends to be more sensitive to market movements. HE has a correlation of 0.08 to the broad based SPY ETF.

HE has a market cap of $1.14 billion. This is considered a Small Cap stock.

Last quarter Hawaiian Electric Industries reported $961 million in Revenue and $.48 earnings per share. This beat revenue expectation by $543 million and missed earnings estimates by -$.01.

In the last 3 years, HE stock traded as high as $45.97 and as low as $8.74.

The top ETF exchange traded funds that HE belongs to (by Net Assets): VTI, VB, VBR, VXF, IFRA.

HE has underperformed the market in the last year with a price return of -71.0% while the SPY ETF gained +26.1%. HE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -22.0% and +2.3%, respectively, while the SPY returned +3.7% and +2.4%, respectively.

HE support price is $9.78 and resistance is $10.50 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HE stock will trade within this expected range on the day.