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Search resuls for: "Andrew Bischof"


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Hawaiian Electric was last trading down 35% at $20.90. Hawaiian Electric did not immediately respond to a request for comment on Monday. Hawaiian Electric Vice President Jim Kelly told CNN Sunday that the company does not comment on pending litigation. He added that Hawaiian Electric does not have a formal shut-off program and precautionary shut-offs have to be arranged with first responders, CNN reported. Morningstar strategist Andrew Bischof said he was lowering his fair value estimate for Hawaiian Electric Industries to $23 per share from $34 due to the reports.
Persons: Mike Blake, Thomas Hayes, Jim Kelly, ” Kelly, Wells, Morningstar, Andrew Bischof, Wells Fargo, Shreyashi Sanyal, Clark Mindock, Shristi, Brendan O'Brien, Michelle Price, Lisa Shumaker, Alexia Garamfalvi Organizations: REUTERS, Hawaiian Electric Industries, Electric, Great, Washington Post, Maui Electric, National Weather Service, Hawaiian Electric, CNN Sunday, CNN, Morningstar, Thomson Locations: Kula, Maui, Hawaii, U.S, Lahaina, Great Hill, New York, Bengaluru, Chibuike
Hawaiian Electric Industries did not immediately respond to a request for comment. A Washington Post report over the weekend raised questions over whether Hawaiian Electric, which owns utility Maui Electric, did not take sufficient safety measures amid warnings days before the fires broke out that wind gusts would trigger dangerous fire conditions. A class action lawsuit has also been filed against Hawaiian Electric claiming a downed power line on Maui caused the fire, NBC news and other outlets reported. The scrutiny caused Wells Fargo (WFC.N) and Morningstar to cut their price targets for Hawaiian Electric. Morningstar strategist Andrew Bischof said he was lowering his fair value estimate for Hawaiian Electric Industries to $23 per share from $34 due to the reports.
Persons: Mike Blake, Wells, Morningstar, Andrew Bischof, Wells Fargo, Shreyashi Sanyal, Michelle Price, Lisa Shumaker Organizations: REUTERS, Hawaiian Electric Industries, Washington Post, Maui Electric, Hawaiian Electric, NBC, Reuters, Morningstar, Thomson Locations: Kula, Maui, Hawaii, U.S, Lahaina, Bengaluru
Excluding the energy sector, earnings estimates for the third quarter are already down 2.6% compared to the previous three months, according to Refinitiv. With high inflation and rising interest rates, Ricciardi says stock market valuations will need to fall further before buyers return. Ricciardi said investors should reposition toward stocks sensitive to interest rates – the so-called defensive stocks – and identified companies in the consumer staples sector. Procter & Gamble , Coca Cola and Pepsi Co were among the stocks he thinks might fair well while interest rates continue to increase. Andrew Bischof from Morningstar's equity research team was the sole analyst with a sell rating on both NextEra and Duke Energy.
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