Hawaiian Electric Industries, Inc. (NYSE:HE) declared a quarterly dividend on Friday, February 2nd, RTT News reports. Investors of record on Thursday, February 22nd will be paid a dividend of 0.31 per share by the utilities provider on Tuesday, March 13th. This represents a $1.24 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Wednesday, February 21st.
Hawaiian Electric Industries has a dividend payout ratio of 75.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Hawaiian Electric Industries to earn $2.00 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 62.0%.
Shares of Hawaiian Electric Industries (NYSE:HE) traded down $0.03 on Wednesday, reaching $33.65. 440,887 shares of the company traded hands, compared to its average volume of 526,772. The company has a market capitalization of $3,670.13, a price-to-earnings ratio of 22.14, a PEG ratio of 2.66 and a beta of 0.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.08 and a current ratio of 0.08. Hawaiian Electric Industries has a 52-week low of $31.71 and a 52-week high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Wednesday, February 14th. The utilities provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. Hawaiian Electric Industries had a net margin of 6.54% and a return on equity of 8.69%. The firm had revenue of $658.60 million for the quarter, compared to analyst estimates of $547.89 million. During the same quarter last year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. research analysts expect that Hawaiian Electric Industries will post 1.88 EPS for the current year.
In other news, Director Jeffrey N. Watanabe sold 9,300 shares of the business’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $33.18, for a total value of $308,574.00. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. UBS Group assumed coverage on shares of Hawaiian Electric Industries in a research report on Friday, February 2nd. They issued a “sell” rating and a $29.00 price target on the stock. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, November 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.00.
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About Hawaiian Electric Industries
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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