Hawaiian Electric Restores All Restorable Customers a Week Early After Hurricane Lala
HE is trading near its 52-week low of $10.79 (4.7% above the low).
Summary
Hawaiian Electric completed repairs to all major systems damaged by Hurricane Lala and restored power to all customers who can be restored, one week ahead of the Sept. 8 estimate. The remaining outages are attributed to customer property damage or access issues, except for Wood Valley in Kau. This follows the Aug. 17 report of 180,000 customers restored, and the company's Q2 earnings miss on Aug. 7. The early completion reduces uncertainty around storm-related costs and operational disruption, a positive for a stock trading near its 52-week low.
At the time of this announcement, HE was trading at $11.30 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $10.79 to $17.38. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.