Hey, old fart - this is your happy friend again (especially these days with my HE holding). The guy is from a FOREIGN COUNTRY - NY, so he knows no better.
Seriously, getting back to HE, I think it's one of the best holdings at this time - safe, steady dividend play with some potential upside (especially when Mike May is canned) and very little downside. We all tend to agree that the mangement sucks BUT all that ineptitude is built in to the share price. The management's whole philosophy is to seek rate increases on a continual basis and if they even get half of what they ask for they're in good shape. They ALWAYS pad their expenses knowing that they may not get the full increase they put in for. YES, it's a corrupt way of running a business but that's the reality of a regulated utility business model. It's not going to change anytime soon so, in the interim, might as well make good use of it.