Hawaiian Electric Industries Inc.NYSE
ASB Hawaii Is About To Erupt
Chris DeMuth Jr. • 37 Comments
Chris DeMuth Jr. • 37 Comments
Thu, Aug. 4, 4:52 PM
Wed, Aug. 3, 5:35 PM
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Wed, Aug. 3, 5:44 AM
Mon, Jul. 18, 9:12 AM
Mon, Jul. 18, 6:17 AM
- Due to a Hawaiian regulatory order dismissing the companies' merger application, NextEra Energy (NYSE:NEE) and Hawaiian Electric (NYSE:HE) have announced the termination of their plans to combine, effective immediately.
- Under the merger agreement's conditions, NextEra will pay Hawaiian Electric a $90M break-up fee and up to $5M for reimbursement of expenses associated with the transaction.
Sat, Jul. 16, 11:17 PM
- Hawaii's Public Utilities Commission voted late Friday to reject NextEra Energy's (NYSE:NEE) bid to purchase Hawaiian Electric (NYSE:HE) in a potentially fatal blow to the deal.
- The regulator said NEE failed to prove its plans for HE would be in the public interest, highlighting concerns about benefits to utility customers, a loss of local control of the utility and NEE’s commitment to deploying solar rooftop systems.
- NEE, the biggest owner of renewable power projects in the U.S., and HE, which serves 95% of Hawaii’s population, say they are reviewing the decision.
- The ruling may allow NEE to concentrate on its pursuit of Energy Future's Oncor Electric Delivery.
Thu, Jun. 30, 2:15 PM
- Hawaiian Electric (HE -6%) turns sharply lower after Hawaii’s governor appointed a utility regulator who analysts say may be skeptical of NextEra Energy’s proposed $2.6B takeover of the company.
- The governor's appointee to the three-member Public Utilities Commission has called for Hawaii to source all of its electricity from renewable resources by 2045 and has voiced opposition to NEE’s takeover bid, and replaces a former utility executive who was seen as “potentially sympathetic” toward the merger.
- "The prospects for the merger to be denied could be perceived to be higher, given the fact that the governor, who has voiced strong opposition to the deal, has appointed a new commissioner shortly before a decision is expected,” says an analyst at Glenrock Associates.
Tue, May 24, 6:45 PM
- NextEra Energy’s (NYSE:NEE) proposed $4.3B takeover of Hawaiian Electric Industries (NYSE:HE) looks increasingly less likely, as the company gets a new chance to buy the largest power distributor in Texas, Bloomberg reports.
- Analysts say this month’s collapse of a deal for the Oncor Electric unit of Energy Future Holdings may prompt NEE, North America’s largest generator of wind and solar power, to dump the Hawaii deal for a second pass at Oncor.
- Oncor’s power system is “a great strategic fit” for NEE, which can afford to walk away from "the uphill battle in Hawaii,” says Guggenheim Securities analyst Shahriar Pourreza; opponents have questioned NEE’s commitment to Hawaii’s goal of 100% renewable power by 2045 and dislike ceding control to the Florida-based company.
- NEE has said it could exit the HE deal after June 3 by paying ~$95M.
Wed, May 4, 1:36 PM
- Hawaiian Electric (NYSE:HE): Q1 EPS of $0.31 misses by $0.06.
- Revenue of $550.96M (-13.6% Y/Y) misses by $37.69M.
Tue, May 3, 5:30 PM
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Thu, Feb. 11, 4:20 PM
- Hawaiian Electric (NYSE:HE): Q4 EPS of $0.41 beats by $0.01.
- Revenue of $624M (-21.0% Y/Y)
Wed, Feb. 10, 5:35 PM
Wed, Feb. 10, 8:48 AM
- Hawaiian Electric (NYSE:HE) declares $0.31/share quarterly dividend, in line with previous.
- Forward yield 4.18%
- Payable March 10; for shareholders of record Feb. 22; ex-div Feb. 18.
Nov. 5, 2015, 5:22 PM
- Hawaiian Electric (NYSE:HE): Q3 EPS of $0.49 beats by $0.02.
- Revenue of $717.2M (-17.3% Y/Y) misses by $158.01M.
Nov. 4, 2015, 5:35 PM
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Sep. 1, 2015, 12:49 PM
- NextEra Energy (NEE -2.7%) and Hawaiian Electric (HE -2.7%) pledge 50 new commitments as part of their proposal to merge that they say would accelerate Hawaii’s goal of getting all of its power from renewable resources.
- The companies say the commitments, filed with the Hawaii Public Utilities Commission, strengthen the benefits the merger will produce for customers, saving them nearly $465B plus ~$500M in economic benefits to the state in the first five years after the merger closes; NEE also says it will maintain HE’s charitable donations and keep the utility locally managed.
- NEE has faced rising state opposition to its $2.63B takeover of HE; Hawaii's governor has said he was against the deal because it failed to align with the state’s goal of 100% renewable power, and the state's consumer advocate has said the deal is not in the public interest.