Hawaiian Electric Industries, Inc. (NYSE:HE) Director Micah A. Kane sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $44.60, for a total transaction of $124,880.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
HE stock traded down $0.48 during trading on Friday, reaching $44.12. 240,908 shares of the company were exchanged, compared to its average volume of 358,351. The company has a 50-day moving average of $44.39 and a two-hundred day moving average of $42.45. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 5.83 and a beta of 0.21. Hawaiian Electric Industries, Inc. has a twelve month low of $34.78 and a twelve month high of $45.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.08 and a quick ratio of 0.08.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.05). The company had revenue of $715.49 million for the quarter, compared to analyst estimates of $592.84 million. Hawaiian Electric Industries had a return on equity of 9.47% and a net margin of 7.07%. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Hawaiian Electric Industries’s dividend payout ratio is 69.19%.
A number of hedge funds have recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. increased its position in Hawaiian Electric Industries by 1.1% in the 2nd quarter. First Republic Investment Management Inc. now owns 23,238 shares of the utilities provider’s stock valued at $1,012,000 after acquiring an additional 251 shares during the period. Captrust Financial Advisors increased its position in Hawaiian Electric Industries by 18.9% in the 2nd quarter. Captrust Financial Advisors now owns 1,777 shares of the utilities provider’s stock valued at $77,000 after acquiring an additional 282 shares during the period. AGF Investments LLC boosted its stake in shares of Hawaiian Electric Industries by 4.3% in the 2nd quarter. AGF Investments LLC now owns 7,028 shares of the utilities provider’s stock valued at $306,000 after purchasing an additional 287 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Hawaiian Electric Industries by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,140 shares of the utilities provider’s stock valued at $877,000 after purchasing an additional 290 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Hawaiian Electric Industries by 2.7% in the 2nd quarter. Bank of Montreal Can now owns 11,448 shares of the utilities provider’s stock valued at $499,000 after purchasing an additional 297 shares during the last quarter. Institutional investors and hedge funds own 54.14% of the company’s stock.
A number of research firms recently issued reports on HE. UBS Group upped their price objective on shares of Hawaiian Electric Industries from $35.00 to $37.00 and gave the stock a “sell” rating in a research report on Friday. JPMorgan Chase & Co. cut shares of Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $37.00 to $38.00 in a research report on Friday, August 9th. Finally, Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a research report on Friday, September 6th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock currently has a consensus rating of “Sell” and an average price target of $38.60.
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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