Hawaiian Electric edges lower after Jefferies cuts PT

Hawaiian Electric Industries

03/01/2025 15:37

** Shares of utility firm Hawaiian Electric  HE.N  down 0.4%
at $9.41
    ** Brokerage Jefferies cuts stock PT to $10.50 from $11.50,
maintains "hold" rating
    ** Jefferies says following the sale of 90.1% of American
Savings Bank by HE, it has removed assumption of equity
issuances in 2025, 2026 and 2027 
    ** "In early January 2025, we expect HE to introduce
proposed legislation which resembles a more simplified version
of the bills put forward in the 2024 session ... the company
intends to focus on a disaster relief fund which would be
recovered from ratepayers, potentially through securitization" -
brokerage
    ** In 2024, HE dropped ~31%

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))