Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have been assigned a consensus rating of “Sell” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $32.33.
Several equities research analysts recently weighed in on HE shares. Bank of America started coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 target price for the company. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. increased their target price on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, October 12th.
Shares of Hawaiian Electric Industries (NYSE HE) opened at $34.97 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. Hawaiian Electric Industries has a one year low of $31.71 and a one year high of $38.72. The firm has a market cap of $3,805.33, a PE ratio of 21.45, a P/E/G ratio of 4.58 and a beta of 0.50.
Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. The company had revenue of $673.19 million during the quarter, compared to the consensus estimate of $648.93 million. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. research analysts forecast that Hawaiian Electric Industries will post 1.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Tuesday, November 21st. Hawaiian Electric Industries’s payout ratio is presently 76.07%.
In related news, Director Thomas B. Fargo sold 5,500 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $36.46, for a total value of $200,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its position in Hawaiian Electric Industries by 2.1% in the second quarter. State Street Corp now owns 3,219,420 shares of the utilities provider’s stock worth $104,245,000 after purchasing an additional 64,949 shares in the last quarter. Wells Fargo & Company MN raised its position in Hawaiian Electric Industries by 5.8% in the third quarter. Wells Fargo & Company MN now owns 2,901,104 shares of the utilities provider’s stock worth $96,810,000 after purchasing an additional 157,906 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hawaiian Electric Industries by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,014,372 shares of the utilities provider’s stock worth $33,851,000 after buying an additional 29,468 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Hawaiian Electric Industries by 6.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 612,436 shares of the utilities provider’s stock worth $20,437,000 after buying an additional 37,410 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Hawaiian Electric Industries by 0.6% during the third quarter. Principal Financial Group Inc. now owns 462,963 shares of the utilities provider’s stock worth $15,449,000 after buying an additional 2,983 shares in the last quarter. 49.23% of the stock is owned by hedge funds and other institutional investors.
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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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