ORIONS Money Stocks

[Monksdream]

So, Pineapple Energy (PEGY) produces solar power for customers in Hawaii. Of course it has a major competitor in that sunny paradise where balmy breezes blow. In order for it to grow revenues it will have to take market share from that competitor. Here it is:

Hawaiian Electric Industries, Inc. (HEI; NYSE: HE) is the largest supplier of electricity in the state of Hawaii, supplying power to 95% of Hawaii's population through its electric utilities: Hawaiian Electric Company, Inc., Hawai'i Electric Light Company, Inc. and Maui Electric Company, Limited. In addition, HEI owns a financial institution serving Hawaii, American Savings Bank, and a clean energy and sustainability company, Pacific Current LLC.[1]

HECO, HELCO, and MECO employ more than 2,000 people. Approximately 20,000 Hawaii residents are shareholders of HECO’s parent company, Hawaiian Electric Industries.[2] The company is headquartered in Honolulu. Net income was $219 million on sales of $2.874B for 2019.[3]

The island of Kauai is the only Hawaiian island not supplied by HEI. Instead, the consumer-owned Kauai Island Utility Cooperative manages that island's electricity.

The stock has a current yield of 3.29%. Maurice, the chart, please: