uploads///Gainers

Hawaiian Electric bucks the trend in a weak market

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Nov. 19 2019, Updated 7:34 p.m. ET

US markets slide down

The week ending on January 30, 2015, wasn’t a particularly good week for the US markets. Last week, the US markets registered the highest weekly fall this year. The SPDR S&P 500 ETF Trust (SPY) was down by 2.7% for the week ending on January 30, 2015. During the same period, the Utilities Select Sector SPDR (XLU) was down 1.7%.

SPY is an ETF. It tracks the S&P 500 (SPX) benchmark index. XLU is a key ETF in the power utility industry.

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Biggest gainer

Hawaiian Electric (HE) withstood the fall in the markets. It was up 0.6% for the week ending on January 30, 2015. Hawaiian Electric closed the week at $34.30 per share.

Hawaiian Electric has been in the news ever since its merger with Florida-based NextEra Energy (NEE) was announced in December 2014. Last week, the two companies filed a joint application with regulatory agencies. They requested approval of the proposed merger. The merger is worth nearly $4.3 billion.

Other gainers 

Besides Hawaiian Electric, CenterPoint Energy (CNP) and CMS Energy (CMS) ended the week with positive returns. CenterPoint Energy and CMS Energy each gained 0.5% in the week ending on January 30, 2015.

SCANA Corporation (SCG) ended the week on a flat note. All of the companies mentioned above are characterized by high dividend yields. They were also the only stocks in the power utility sector that didn’t fall in the week ending on January 30, 2015.

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