Hawaiian Electric Industries stock gains analyst upgrade amid rate hike hearings

Hawaiian Electric Industries stock (ISIN US4198701009) is back in the spotlight after Jefferies Financial Group raised its view on the shares to a moderate sell rating on September 19, 2026, reflecting a slight easing in its previously more negative stance toward the utility.

Analyst moves reshape HE stock sentiment

According to MarketBeat on September 19, 2026, Jefferies Financial Group lifted its rating on Hawaiian Electric Industries from a stronger sell stance to moderate sell, while data compiled by the portal show a consensus rating of strong sell and an average price target of USD 9.25 for the stock.

The same overview notes that two research analysts currently rate Hawaiian Electric Industries shares as Hold and three assign Sell ratings, underscoring that negative sentiment still dominates even after the Jefferies adjustment.MarketBeat

Regulators scrutinize proposed rate hikes

As Big Island Now reported on September 18, 2026, Hawaiian Electric Companies, including Hawaiian Electric Company, Hawaii Electric Light Company and Maui Electric Company, have proposed a rebasing plan that would increase annual revenues by approximately USD 170 million, equal to a 5.3 percent rise over total operating revenues at current effective rates.

The state Public Utilities Commission is holding statewide hearings on this requested revenue increase, a process that will be watched closely by investors because approved higher revenues could support future earnings, while pushback from regulators or customers might limit the upside for Hawaiian Electric Industries.

Earnings track and upcoming report dates

According to the events calendar for Hawaiian Electric Industries on Markets Insider, the company reported first quarter 2026 earnings per share of USD 0.18 on May 8, 2026, and is estimated to deliver Q2 2026 EPS of USD 0.21 at its earnings release scheduled for August 7, 2026.

The same calendar shows that the next expected earnings event is the Q3 2026 earnings release with an estimated EPS of USD 0.21 on November 6, 2026, which is the next key reporting date for Hawaiian Electric Industries investors.Markets Insider

Valuation and profit expectations

In its estimates section, Markets Insider lists projected revenue for Hawaiian Electric Industries of USD 3,139 million in 2026, rising to USD 3,340 million in 2027, implying revenue growth of about 6.4 percent year-on-year if those estimates are met.

The same table indicates an expected net profit of USD 190 million for 2026 compared with USD 220 million forecast for 2027, a gain of roughly 15.8 percent, while the projected earnings per share for 2026 of USD 0.93 would increase to USD 1.13 in 2027, highlighting the earnings leverage embedded in the company’s regulated utility and banking operations under current assumptions.Markets Insider

Stock price level and investor takeaway

Per technical commentary from Stock Traders Daily dated September 19, 2026, Hawaiian Electric Industries shares were trading around USD 9.80 in the context of multi-timeframe signal analysis, with near-term and mid-term sentiment assessed as weak and long-term outlook described as neutral.

The same analysis highlights support and resistance signals around USD 9.90 and USD 10.21 in the mid-term horizon, suggesting that price-sensitive allocations are currently focused on relatively tight trading ranges while the broader risk backdrop is shaped by regulatory decisions on rate hikes and ongoing analyst skepticism.Stock Traders Daily

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