Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $42.59 and last traded at $42.20, with a volume of 23281 shares. The stock had previously closed at $42.44.
Separately, Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th.
The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 3.93 and a beta of 0.26.
Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. The company had revenue of $661.62 million for the quarter, compared to the consensus estimate of $563.95 million. Hawaiian Electric Industries had a net margin of 7.27% and a return on equity of 9.75%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.94 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Thursday, May 23rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Wednesday, May 22nd. Hawaiian Electric Industries’s dividend payout ratio (DPR) is currently 69.19%.
In related news, Director James K. Scott sold 5,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $38.85, for a total value of $213,675.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.94% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its holdings in Hawaiian Electric Industries by 2.0% during the third quarter. Teachers Advisors LLC now owns 161,208 shares of the utilities provider’s stock valued at $5,737,000 after purchasing an additional 3,110 shares during the last quarter. Vanguard Group Inc lifted its holdings in Hawaiian Electric Industries by 2.1% during the third quarter. Vanguard Group Inc now owns 10,794,377 shares of the utilities provider’s stock valued at $384,172,000 after purchasing an additional 220,546 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Hawaiian Electric Industries by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 141,168 shares of the utilities provider’s stock valued at $5,170,000 after purchasing an additional 464 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Hawaiian Electric Industries by 41.3% during the fourth quarter. State of Alaska Department of Revenue now owns 47,729 shares of the utilities provider’s stock valued at $1,746,000 after purchasing an additional 13,957 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Hawaiian Electric Industries by 7.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 87,200 shares of the utilities provider’s stock valued at $3,193,000 after purchasing an additional 6,000 shares during the last quarter. 52.60% of the stock is currently owned by institutional investors.
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About Hawaiian Electric Industries (NYSE:HE)
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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