Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have received an average rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $41.80.
Several research firms have issued reports on HE. Guggenheim started coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, January 7th. They issued a “neutral” rating and a $44.00 price target on the stock. Wells Fargo & Co downgraded shares of Hawaiian Electric Industries from an “equal weight” rating to an “underweight” rating and set a $43.00 price objective for the company. in a report on Wednesday, January 8th.
In other Hawaiian Electric Industries news, CEO Richard F. Wacker sold 40,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $46.39, for a total value of $1,855,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Holdings L.P. Valueact bought 755,600 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average cost of $41.94 per share, with a total value of $31,689,864.00. The disclosure for this purchase can be found here. Company insiders own 0.94% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in HE. FMR LLC grew its stake in shares of Hawaiian Electric Industries by 96.6% in the first quarter. FMR LLC now owns 567,340 shares of the utilities provider’s stock worth $23,131,000 after acquiring an additional 278,694 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its holdings in Hawaiian Electric Industries by 3.6% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 60,842 shares of the utilities provider’s stock valued at $2,481,000 after acquiring an additional 2,136 shares during the period. Voya Investment Management LLC lifted its holdings in Hawaiian Electric Industries by 18.4% in the third quarter. Voya Investment Management LLC now owns 22,735 shares of the utilities provider’s stock valued at $1,037,000 after acquiring an additional 3,532 shares during the period. State Street Corp lifted its holdings in Hawaiian Electric Industries by 2.8% in the third quarter. State Street Corp now owns 3,051,228 shares of the utilities provider’s stock valued at $139,167,000 after acquiring an additional 82,603 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in Hawaiian Electric Industries by 0.3% in the third quarter. California State Teachers Retirement System now owns 172,579 shares of the utilities provider’s stock valued at $7,871,000 after acquiring an additional 461 shares during the period. 55.67% of the stock is owned by institutional investors.
NYSE HE traded up $1.37 during midday trading on Monday, hitting $39.46. The company had a trading volume of 10,059 shares, compared to its average volume of 1,245,301. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.95. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 5.69 and a beta of 0.40. The firm has a fifty day simple moving average of $46.25 and a two-hundred day simple moving average of $45.59. Hawaiian Electric Industries has a fifty-two week low of $33.51 and a fifty-two week high of $55.15.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.10. The company had revenue of $725.97 million for the quarter, compared to analyst estimates of $758.90 million. Hawaiian Electric Industries had a net margin of 7.65% and a return on equity of 9.86%. The business’s quarterly revenue was down 4.7% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. As a group, equities analysts predict that Hawaiian Electric Industries will post 1.94 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Wednesday, February 26th were issued a dividend of $0.33 per share. This is an increase from Hawaiian Electric Industries’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend was Tuesday, February 25th. Hawaiian Electric Industries’s dividend payout ratio (DPR) is currently 66.33%.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.
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