Hawaiian Electric Industries, Inc.

Hawaiian Electric Industries, Inc.

Hawaiian Electric Industries, Inc.

Overview
Date Founded

1981

Headquarters

1001 Bishop Street, Suite 2900, Honolulu, HI, 96813, USA

Type of Company

Public

Employees (Worldwide)

3,841

Industries

Power & Utilities
Alternative Energy
Appliances & Electronics
Retail & Commercial Banking
Holding Companies

Company Description

Hawaiian Electric Industries, Inc. is a holding company, which through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment involves in the generation, purchase, transmission, distribution, and sale of electric energy in the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai. The Bank segment offers general banking services to individual and business customers through its branch system. The Other segment refers to corporate-level operating, general, and administrative expenses. The company was founded by C. Dudley Pratt Jr. in 1981 and is headquartered in Honolulu, HI.

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Executives & Employees

President & Chief Executive Officer

Executive Vice President, Chief Administrative Officer & Assistant Secretary, American Savings Bank

Executive Vice President & Chief Financial Officer

Executive Vice President, General Counsel, Chief Administrative Officer & Corporate Secretary

Controller & Chief Accounting Officer of HECO

President, American Home Loans-American Savings Bank

President, Hawai'I Electric Light Company, Inc

Vice President-Tax, Controller & Treasurer

Executive Vice President, Retail Banking, American Savings Bank

Executive Vice President, Operations & Technology, American Savings Bank

Board of Directors

Owner at Fargo Associates LLC

President & Chief Executive Officer at Hawaiian Electric Industries, Inc.

Hawaiian Electric Industries, Inc.

President & Chief Executive Officer at James Campbell Co. LLC

Former Chief Executive Officer & President at Portland General Electric Company

Co-Founder at Inclusive Capital Partners LP

Former President & Chief Executive Officer at Green Mountain Power Corporation

President at Russell Financial Services, Inc.

President & Chief Executive Officer at Hawaii Community Foundation

Co-Founder at C.Dots Development, LLC

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Hawaiian Electric Industries, Inc.
Owners & Shareholders
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Whitehelm Capital Pty Ltd. provides financial advisory services. It offers unlisted, listed, infrastructure debt, advisory, and real estate services. The company was founded in 1996 and is headquartered in Sydney, Australia.

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Piermont Capital Management Piermont's investment philosophy is built on the belief that significant alpha generation opportunities in the small-cap segment of the market can be identified through a systematic, risk-controlled and repeatable process. The firm focuses on security selection, limiting undesired tracking error, and positioning the portfolio optimally regardless of the type of market and economic environment. The strategies utilize multi-factor ranking models combined with a thorough qualitative fundamental risk review. Piermont employs sector-specific multi-factor models that each combine 5-9 factors to rank stocks versus their peers at the industry level. In addition, over 40 factors are used across all of the sector models. The models are long-term in nature, with a focus on excess return consistency across various market environments. Piermont's portfolio construction process is designed to maximize the value added through stock selection and minimize benchmark-relative risks that do not add excess return. This risk-controlled, security selection-focused approach is designed to generate excess returns, a higher information ratio, and more consistent returns. A stock ranked within the top 20% of its sector is a purchase candidate. For a stock to be highly ranked, it must stand out versus its industry and sector peers on the factors that are most relevant to predictive stock performance within the sector. Purchase candidates are subject to market capitalization, liquidity and minimum price per share parameters, as well as a qualitative risk review.The Piermont LongShort Fund seeks to invest in a portfolio of long and short stocks to achieve investment returns near the level of long-only U.S. public stock-market indices over a full market cycle, but with reduced return volatility, greater downside protection, and a lower correlation to long-only stock indices.

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Bennicas & Associates' focus is on conservative growth and preservation of capital. They seek to maximize total return while minimizing risk by designing portfolios comprised primarily of diversified equities and highly rated bonds. This correlates with their basic principle of bottom-line value. Bennicas typically purchases only securities which they feel to be both a good current value and a good long-term value. While Bennicas occasionally implements short-term purchases (securities sold within one year), their main investment strategy involves long-term purchases (securities held at least one year). The firm does not engage in individual short sales, margin transactions or option writing, unless specifically directed by the client. The types of investments Bennicas manages include (domestic and foreign): publicly traded equities, warrants, ETFs, commercial paper, corporate debt instruments, CDs, municipal securities, US government and US government agency securities, publically traded foreign government bonds, and no-load mutual funds.^

Recent Transactions
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Hawaiian Electric Industries, Inc., Hamakua Energy LLC purchase Hamakua Energy Partners LP /Generating Plant from Hamakua Energy Partners LP

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Hawaiian Electric Industries, Inc. issued USD Common Stock

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Hawaiian Electric Industries, Inc. raised money in a private placement transaction

Transaction Advisors
Auditor

Advised onHawaiian Electric Industries, Inc. issued USD Common Stock

Underwriter

Advised onHawaiian Electric Industries, Inc. issued USD Common Stock

Underwriter

Advised onHawaiian Electric Industries, Inc. issued USD Common Stock

Executive Director

Advised onHawaiian Electric Industries, Inc. issued USD Common Stock

Executive Director

Advised onHawaiian Electric Industries, Inc. issued USD Common Stock

Clients

The Government of the United States of America is the federal government of the republic of fifty states that constitute the United States, as well as one capital district, and several other territories. The federal government is composed of three distinct branches: legislative, executive and judicial, whose powers are vested by the U.S. Constitution in the Congress, the President, and the federal courts, including the Supreme Court, respectively.

Key Stats and Financials As of 2019
Market Capitalization
$3.74B
Total Enterprise Value
$7.34B
Earnings Per Share
$1.99
Revenue
$2.87B
Net Profit
$220M
EBITDA
$593M
EBITDAMargin
20.64%
Total Debt
$2.46B
Total Equity
$2.31B
Enterprise Value / Sales
2.55x
Enterprise Value EBITDAOperating
12.03x
TEVNet Income
33.39x
Debt TEV
0.34x
Three Year Compounded Annual Growth Rate Of Revenue
6.49%
Non-Profit Donations & Grants
Investments
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Firetide, Inc. develops and supplies mesh networks and networking equipment. It offers wireless mesh infrastructure and access solution for video surveillance, internet access, public safety networks, and temporary networks wherever rapid deployment, mobility, and ease of installation are required. The firm's customers include the public safety, transportation and automation industries. The company was founded by Lawrence Rosenthal, Barbara Cardillo, Tareq Hoque, Isaac R. Nassi and Keith Klemba in 2002 and is headquartered in Campbell, CA.

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ClearFuels Technology, Inc. produces advanced renewable bio fuels. It operates bio-refineries to produce biofuels from multiple mixed cellulosic biomass feedstocks. The company was founded by Robert Shleser in 1998 and is headquartered in Aiea, HI.

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Hoku Corp. engages in the provision of solar energy products and services. It offers photovoltaic systems, polysilicon, silicon ingots and wafers, photovoltaic cells, and photovoltaic modules. The company was founded by Dustin Masaru Shindo and Karl M. Taft III in March 2001 and is headquartered in Honolulu, HI.

Suppliers
Ormat Technologies, Inc. Pension Funds & Sovereign Wealth | Reno, Nevada

Ormat Technologies, Inc. (NYSE: ORA) is a world leader in the geothermal power plant sector. As a geothermal company we have over four decades of experience in the development of state-of-the-art, environmentally sound power solutions, primarily in geothermal and recovered energy generation. In addition to designing, developing, building, owning and operating geothermal energy and recovered energy-based power plants in the United States and other countries, Ormat also designs, manufactures and sells power units and other power generating equipment for geothermal power plants and recovered energy-based electricity generation. Ormat is today's only vertically-integrated provider of geothermal and recovered energy-based equipment, services and power that designs, develops, builds and manufactures most of the equipment used in its plants. The in-depth knowledge gained from these operations gives us a competitive edge by enabling efficient maintenance and timely response to operational issues.

State of Hawaii Government | Honolulu, HI

The AES Corp. Alternative Energy | Arlington, VA

The AES Corporation (NYSE: AES) is a global power company that owns and operates a diverse and growing portfolio of electricity generation and distribution businesses, which provide reliable, affordable energy to customers in 27 countries. AES understands that a reliable, affordable supply of electricity is essential to human progress, economic growth, public health and security. Our power plants encompass a broad range of technologies and fuel types, including coal, diesel, hydropower, gas, oil, wind and biomass. Our utilities power several diverse markets, from São Paulo to Indianapolis to Douala. Combining deep local insight with a global presence and more than 30 years of experience, AES has a proven commitment to ensuring operational excellence in providing electricity to its customers.

Competitors
Northfield Bancorp, Inc. (New Jersey) Retail & Commercial Banking - Woodbridge, New Jersey

Northfield Bancorp, Inc. is a holding company, which engages in the provision of banking and financial services. Its also involves in gathering of deposits and to a lesser extent, borrowing funds, and using such funds to originate multifamily real estate loans and commercial real estate loans, purchase investment securities including mortgage-backed securities and corporate bonds, as well as deposit funds in other financial institutions. The company was founded on March 1, 1887 and is headquartered in Woodbridge, NJ.

Century Bancorp, Inc. (Massachusetts) Retail & Commercial Banking - Medford, MA

Century Bancorp, Inc. operates as the holding company for Century Bank and Trust Company, which provides banking services to commercial enterprises, state and local governments and agencies, nonprofit organizations, and individuals in Massachusetts. It accepts savings accounts, Now accounts, demand deposits, time deposits, and money market accounts. The company's loan portfolio comprises single and multi-family residential loans, commercial and industrial loans, commercial real estate loans, construction loans, Home equity loans, and consumer loans. It also offers automated lockbox collection, cash management, and account reconciliation services to its corporate and institutional customers, as well as promotes the marketing of these services to the municipal market. In addition, the company offers securities brokerage services; and financial services, including transaction processing and short-term financing to municipalities. As of September 30, 2011, Century Bancorp operated 24 banking offices in 17 cities and towns in Massachusetts. The company was founded in 1969 and is headquartered in Medford, Massachusetts

WSFS Financial Corp. Retail & Commercial Banking - Wilmington, DE

WSFS Financial Corp. is a savings and loan holding company, which engages in the provision of banking and financial services. It operates through the following business segments: WSFS Bank, Cash Connect, and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers. The Cash Connect segment offers ATM vault cash, cash safe, and other cash logistics services. The Wealth Management segment focuses in array of fiduciary, investment management, credit, and deposit products to clients. The company was founded in 1832 and is headquartered in Wilmington, DE.

Awards & Honors
Rank #817
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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