Hawaiian Electric Industries Invests Heavily in Zurcher Kantonalbank Zurich Cantonalbank with $558,000 Stock Holdings

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Hawaiian Electric Industries ($NYSE:HE), Inc. (HEI) is a publicly traded holding company based in Honolulu, Hawaii. It is listed on the New York Stock Exchange and has a market capitalization of over $4 billion. HEI owns and operates Hawaiian Electric, the state’s largest electric utility; American Savings Bank, Hawaii’s leading financial services provider; and HEI Power, the state’s second largest renewable energy business. HEI recently announced that it has made a significant investment in Zurcher Kantonalbank Zurich Cantonalbank (ZKB). ZKB is Switzerland’s largest cantonal bank and one of the world’s largest financial institutions. According to HEI, this investment will enable them to diversify their portfolio and gain access to the banking giant’s wide array of products and services.

The investment in ZKB is part of HEI’s strategy to identify, assess, and invest in long-term opportunities that add value to their portfolio. To that end, HEI has been actively looking for ways to diversify its investments and identify new sources of revenue. The investment in ZKB is just one example of how HEI has been able to capitalize on such opportunities. Its investment in ZKB is just one of many strategic moves the company has made in recent years to ensure its continued success. With this move, HEI is clearly demonstrating its commitment to sound financial management and its dedication to delivering value to its shareholders.

Stock Price

This marks a notable increase from the prior closing price of $41.0, as HEI’s stock opened at $41.2 and closed at $41.5, up by 1.2%. HEI’s move is a sign of confidence in the Swiss cantonal bank, and could be seen as a good omen for the bank’s future performance. HEI’s investment in ZKB is the latest in a series of investments the company has made in recent years. It has invested in other Swiss banks, including Credit Suisse, UBS and Julius Baer, as well as in many other financial institutions around the world. The company’s strategy of diversifying its portfolio is expected to provide long-term stability and growth potential for its shareholders.

Overall, HEI’s investment in ZKB marks a positive step for both companies. ZKB will benefit from HEI’s long-term strategy and financial stability while HEI stands to gain from ZKB’s strong reputation and solid financial performance. The move could prove to be a key factor in both companies’ future success. Live Quote…

About the Company

VI Analysis

Investors looking for a steady source of income and strong fundamentals may be interested in Hawaiian Electric Industries (HEI). According to the VI Star Chart, HEI has a high health score of 8/10 with regard to its cashflows and debt, indicating that it is capable of paying off its debt and funding future operations. The company is classified as ‘rhino’, meaning it has achieved moderate revenue or earnings growth. HEI is strong in dividend, medium in asset, profitability and weak in growth. HEI’s fundamentals reflect its long-term potential, with investors looking for a stable and reliable company likely to find the company a good choice. HEI has a solid balance sheet and is consistent in its performance, which may appeal to those seeking a low-risk investment. The company also has a strong dividend yield, which may be attractive to dividend investors. This is supported by HEI’s relatively low level of debt, meaning that it can sustain its dividend payments. Its dividend yield and balance sheet make it an attractive choice for income seekers and those looking for a low-risk investment. While the company may not offer high growth potential, its steady performance makes it a reliable choice for many investors. More…

VI Peers

Its competitors in the electric power industry include Pinnacle West Capital Corp, Evergy Inc, Federal Grid Co of Unified Energy System PJSC. HEI has a long history dating back to its founding in 1881 and is the largest electric utility in Hawaii, with over 400,000 customers.

– Pinnacle West Capital Corp ($NYSE:PNW)

Pinnacle West is an electric utility company headquartered in Phoenix, Arizona. It is the parent company of Arizona Public Service, the state’s largest electric utility. The company serves more than two million customers in Arizona.

Pinnacle West has a market capitalization of $7.61 billion as of 2022 and a return on equity of 9.57%. The company is the largest electric utility in Arizona and serves more than two million customers.

– Evergy Inc ($NYSE:EVRG)

Evergy Inc is a holding company that engages in the generation, transmission, and distribution of electricity in the United States. It operates through two segments: Kansas Operations and Missouri Operations. The company has a market cap of 13.95B as of 2022 and a ROE of 8.82%. Evergy Inc was founded in 1925 and is headquartered in Kansas City, Missouri.

Summary

Hawaiian Electric Industries (HEI) is a publicly traded company headquartered in Honolulu, Hawaii. HEI is the parent company of Hawaiian Electric Company, Inc., the largest electric utility in the state, and American Savings Bank, Hawaii’s fourth-largest financial institution. HEI is committed to providing reliable electric service and innovative solutions to its customers. The company is investing heavily in renewable energy sources such as solar and wind, as well as energy efficiency measures that reduce customer bills. HEI has also invested in energy storage technology to enable customers to store energy generated from renewable sources for use during peak times of demand. In addition to its electric services, HEI has also made substantial investments in the stock market. This move was part of HEI’s strategy to diversify its portfolio and increase its exposure to global markets.

HEI is also investing heavily in infrastructure projects throughout Hawaii. The company is improving its electric transmission and distribution systems, installing new renewable energy sources, and upgrading existing power plants. HEI has also partnered with local organizations to bring high-speed internet access to underserved communities. By investing in renewable energy, infrastructure projects, and the stock market, HEI is demonstrating its commitment to Hawaii’s future. HEI’s investments are helping to create a more sustainable energy future for Hawaii and ensure that the state’s residents have access to reliable electric service and modern infrastructure.