Hawaiian Electric Industries, Inc. (HE) Plans Quarterly Dividend of $0.31

Hawaiian Electric Industries, Inc. (NYSE:HE) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.31 per share by the utilities provider on Tuesday, December 12th. This represents a $1.24 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Tuesday, November 21st.

Hawaiian Electric Industries has a dividend payout ratio of 76.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Hawaiian Electric Industries to earn $1.80 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 68.9%.

Shares of Hawaiian Electric Industries (HE) traded down $0.36 during trading on Tuesday, hitting $37.89. 329,622 shares of the stock were exchanged, compared to its average volume of 447,143. The stock has a market capitalization of $4,144.75, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 5.50 and a beta of 0.50. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.83 and a current ratio of 0.83. Hawaiian Electric Industries has a 52-week low of $30.73 and a 52-week high of $38.72.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The company had revenue of $673.19 million during the quarter, compared to analysts’ expectations of $648.93 million. Hawaiian Electric Industries had a net margin of 8.99% and a return on equity of 11.53%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 earnings per share. equities research analysts expect that Hawaiian Electric Industries will post 1.63 EPS for the current year.

In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Several brokerages have recently issued reports on HE. Bank of America began coverage on shares of Hawaiian Electric Industries in a report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 target price on the stock. BidaskClub upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, J P Morgan Chase & Co lifted their price target on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Three analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.33.

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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).

Dividend History for Hawaiian Electric Industries (NYSE:HE)

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