At a New High, Does Hawaiian Electric Still Have the Power to
Head Higher?  Shares of Hawaiian Electric Industries (NYSE:
HE  ) hit a 52-week high on Friday. Let's take a look at how the
company got there and see if clear skies are still in the
forecast.  How it got here Hawaiian Electric Industries isn't a
household name, but with the stock hitting new highs it's bound
to turn some heads.  The company itself is actually made up of
three electric utilities and a bank. This dual business approach
leads to both good and bad consequences. On the plus side,
electric utilities supply a necessity product that has little
price elasticity (unless it's heading higher) and the company's
banking investment portfolio yields semi-consistent cash flow.
On the other hand, the bank, and to some extent the utilities,
are at the mercy of the Hawaiian economy. If Hawaii's economy
dips into recession, chances are Hawaiian Electric Industries
isn't going to fare well, either.  The good news for the company
is that Hawaii's econom