Hawaiian Electric Industries (NYSE:HE) released its quarterly earnings results on Friday. The utilities provider reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by ($0.05), RTT News reports. The company had revenue of $715.49 million during the quarter, compared to the consensus estimate of $592.84 million. Hawaiian Electric Industries had a return on equity of 9.75% and a net margin of 7.27%. During the same period in the previous year, the firm posted $0.42 earnings per share.
Shares of HE traded down $0.25 during trading hours on Friday, hitting $44.36. The company had a trading volume of 356,836 shares, compared to its average volume of 306,503. The company has a market cap of $4.88 billion, a P/E ratio of 23.98, a PEG ratio of 4.14 and a beta of 0.23. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.07 and a quick ratio of 0.07. Hawaiian Electric Industries has a one year low of $34.16 and a one year high of $45.19. The business’s fifty day moving average price is $44.11.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, August 21st. Hawaiian Electric Industries’s payout ratio is 69.19%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in HE. Raymond James & Associates grew its stake in Hawaiian Electric Industries by 2.6% during the fourth quarter. Raymond James & Associates now owns 15,729 shares of the utilities provider’s stock worth $576,000 after buying an additional 401 shares in the last quarter. Stifel Financial Corp grew its stake in Hawaiian Electric Industries by 2.0% during the fourth quarter. Stifel Financial Corp now owns 18,395 shares of the utilities provider’s stock worth $677,000 after buying an additional 365 shares in the last quarter. Squarepoint Ops LLC grew its stake in Hawaiian Electric Industries by 11.8% during the fourth quarter. Squarepoint Ops LLC now owns 25,881 shares of the utilities provider’s stock worth $948,000 after buying an additional 2,724 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Hawaiian Electric Industries by 5.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 27,664 shares of the utilities provider’s stock worth $1,013,000 after acquiring an additional 1,398 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Hawaiian Electric Industries by 5.2% in the fourth quarter. Legal & General Group Plc now owns 287,791 shares of the utilities provider’s stock worth $10,538,000 after acquiring an additional 14,178 shares during the last quarter. 53.03% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 price target for the company. in a research report on Wednesday, May 29th.
Hawaiian Electric Industries Company Profile
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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