Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $36.84 and last traded at $36.76, with a volume of 368722 shares trading hands. The stock had previously closed at $36.23.
Several equities analysts have recently commented on HE shares. BidaskClub raised Hawaiian Electric Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 19th. Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. J P Morgan Chase & Co upped their price target on Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th. Finally, Bank of America Corporation initiated coverage on Hawaiian Electric Industries in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price target on the stock. Four investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Sell” and an average price target of $32.33.
The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.77. The firm has a market cap of $3,941.32, a price-to-earnings ratio of 22.23, a PEG ratio of 5.23 and a beta of 0.49.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $673.19 million during the quarter, compared to analysts’ expectations of $648.93 million. Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. Hawaiian Electric Industries’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.58 EPS. research analysts expect that Hawaiian Electric Industries, Inc. will post 1.63 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd will be issued a $0.31 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.24 annualized dividend and a dividend yield of 3.42%. Hawaiian Electric Industries’s dividend payout ratio is presently 76.07%.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Hawaiian Electric Industries during the 2nd quarter worth about $123,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hawaiian Electric Industries by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 297 shares during the period. Ffcm LLC increased its holdings in Hawaiian Electric Industries by 121.0% during the 2nd quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 2,642 shares during the period. TLP Group LLC increased its holdings in Hawaiian Electric Industries by 818.4% during the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 4,804 shares during the period. Finally, CKW Financial Group increased its holdings in Hawaiian Electric Industries by 41.5% during the 2nd quarter. CKW Financial Group now owns 6,136 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,801 shares during the period. Institutional investors own 47.87% of the company’s stock.
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Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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