Shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) reached a new 52-week low on Wednesday . The stock traded as low as $37.86 and last traded at $37.88, with a volume of 315157 shares. The stock had previously closed at $38.44.
Wall Street Analyst Weigh In
Several research firms have weighed in on HE. Evercore ISI dropped their price target on Hawaiian Electric Industries to $40.00 in a research note on Monday, August 15th. StockNews.com cut Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a report on Tuesday, August 9th. Finally, Bank of America cut Hawaiian Electric Industries from a "neutral" rating to an "underperform" rating and set a $43.00 price objective on the stock. in a report on Thursday, August 18th.
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The firm has a market capitalization of $4.13 billion, a PE ratio of 17.23, a PEG ratio of 6.92 and a beta of 0.32. The company has a fifty day moving average price of $40.69 and a 200-day moving average price of $41.44. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.07 and a current ratio of 0.07.
Hawaiian Electric Industries (NYSE:HE – Get Rating) last released its quarterly earnings results on Monday, August 8th. The utilities provider reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.04). Hawaiian Electric Industries had a net margin of 7.53% and a return on equity of 10.38%. During the same period in the previous year, the business posted $0.58 EPS. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 2.13 earnings per share for the current year.Hawaiian Electric Industries Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Thursday, August 18th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 17th. This represents a $1.40 annualized dividend and a yield of 3.71%. Hawaiian Electric Industries's payout ratio is presently 63.93%.
Institutional Trading of Hawaiian Electric Industries
Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC increased its stake in Hawaiian Electric Industries by 7.2% in the fourth quarter. HighTower Advisors LLC now owns 17,949 shares of the utilities provider's stock worth $747,000 after purchasing an additional 1,210 shares during the period. Swiss National Bank increased its stake in Hawaiian Electric Industries by 7.5% in the first quarter. Swiss National Bank now owns 258,400 shares of the utilities provider's stock worth $10,933,000 after purchasing an additional 18,000 shares during the period. Versor Investments LP increased its stake in Hawaiian Electric Industries by 32.8% in the first quarter. Versor Investments LP now owns 19,954 shares of the utilities provider's stock worth $844,000 after purchasing an additional 4,923 shares during the period. InterOcean Capital Group LLC purchased a new stake in Hawaiian Electric Industries in the first quarter worth $262,000. Finally, Corton Capital Inc. purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth $418,000. Hedge funds and other institutional investors own 53.30% of the company's stock.
Hawaiian Electric Industries Company Profile
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Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.
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