Hawaiian Electric Industries (NYSE:HE) Director Thomas B. Fargo sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $33.29, for a total value of $332,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of HE opened at $32.98 on Friday. Hawaiian Electric Industries has a 52 week low of $31.71 and a 52 week high of $38.72. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $3.59 billion, a PE ratio of 19.99, a P/E/G ratio of 2.45 and a beta of 0.34.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, May 10th. The utilities provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Hawaiian Electric Industries had a return on equity of 8.96% and a net margin of 6.64%. The firm had revenue of $645.87 million for the quarter, compared to the consensus estimate of $595.98 million. research analysts predict that Hawaiian Electric Industries will post 1.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Wednesday, May 23rd will be paid a $0.31 dividend. The ex-dividend date is Tuesday, May 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.76%. Hawaiian Electric Industries’s payout ratio is 75.15%.
A number of research analysts have recently weighed in on the company. JPMorgan Chase cut their price objective on Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Zacks Investment Research upgraded Hawaiian Electric Industries from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Tuesday, April 24th. Finally, UBS initiated coverage on Hawaiian Electric Industries in a research note on Friday, February 2nd. They issued a “sell” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.50.
Several institutional investors and hedge funds have recently modified their holdings of HE. Royal Bank of Canada boosted its position in Hawaiian Electric Industries by 0.9% during the first quarter. Royal Bank of Canada now owns 425,846 shares of the utilities provider’s stock worth $14,641,000 after purchasing an additional 3,980 shares in the last quarter. Legal & General Group Plc boosted its position in Hawaiian Electric Industries by 8.7% during the first quarter. Legal & General Group Plc now owns 254,844 shares of the utilities provider’s stock worth $8,761,000 after purchasing an additional 20,421 shares in the last quarter. Guggenheim Capital LLC boosted its position in Hawaiian Electric Industries by 19.5% during the first quarter. Guggenheim Capital LLC now owns 57,889 shares of the utilities provider’s stock worth $1,990,000 after purchasing an additional 9,440 shares in the last quarter. LPL Financial LLC boosted its position in Hawaiian Electric Industries by 17.0% during the first quarter. LPL Financial LLC now owns 18,340 shares of the utilities provider’s stock worth $631,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Hawaiian Electric Industries during the first quarter worth approximately $725,000. Hedge funds and other institutional investors own 50.36% of the company’s stock.
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, sugarcane waste, municipal waste, and other bio fuels.
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