Maui wildfire report won't impact settlement, analyst says [Seeking Alpha]
Hawaiian Electric Industries, Inc. (HE)
Last hawaiian electric industries, inc. earnings: 11/1 06:00 am
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Source: Seeking Alpha
The deadly Maui wildfires last year were caused by Hawaiian Electric Industries' ( NYSE: HE ) broken utility lines, the Maui Fire Department said in a report released on Wednesday. "In our view, the ATF report's findings will not affect the settlement," Evercore ISI analyst Michael Lonegan, who has an in line rating and $9 price target on HE, wrote in a note. Hawaiian Electric ( HE ) in August said it agreed to pay about $2 billion as part of a $4 billion settlement with hundreds of plaintiffs over the deadly wildfire. Shares of Hawaiian Electric were unchanged on Thursday, paring an earlier decline of 2.5%. "HE is on the hook for $2B, or roughly half of the settlement as it stands now," Lonegan wrote. "We believe this allocation appropriately reflects HE's responsibility for starting the Morning Fire, with the devastation from the Afternoon Fire attributed to poor preparation and response from nay constituents, as the Attorney General's reports indicate." Evercore's Lonegan
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News
- Hawaiian Electric Industries, Inc. (NYSE: HE) had its price target lowered by analysts at Evercore ISI from $11.00 to $10.00. They now have an "in-line" rating on the stock.MarketBeat
- Hawaiian Electric Continues to Advance Wildfire Safety Efforts [Yahoo! Finance]Yahoo! Finance
- Hawaiian Electric Continues to Advance Wildfire Safety EffortsBusiness Wire
- Hawaiian Electric Industries, Inc. (NYSE: HE) had its price target raised by analysts at Evercore ISI from $9.00 to $11.00. They now have an "in-line" rating on the stock.MarketBeat
- Hawaiian Electric Industries Inc (HE) Q3 2024 Earnings Call Highlights: Navigating Challenges ... [Yahoo! Finance]Yahoo! Finance
HE
Sec Filings
- 11/12/24 - Form SC
- 11/8/24 - Form 10-Q
- 11/8/24 - Form 8-K
- HE's page on the SEC website