Hawaiian Electric Industries, Inc. (NYSE:HE) Director Jeffrey N. Watanabe sold 5,700 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $44.21, for a total value of $251,997.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of HE traded up $0.39 during trading hours on Thursday, hitting $44.65. 3,578 shares of the company were exchanged, compared to its average volume of 367,013. The company has a market capitalization of $4.86 billion, a P/E ratio of 24.23, a PEG ratio of 4.14 and a beta of 0.23. The company’s 50 day simple moving average is $44.28. Hawaiian Electric Industries, Inc. has a 52 week low of $34.78 and a 52 week high of $45.19. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.08 and a current ratio of 0.08.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, August 2nd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.05). The company had revenue of $715.49 million for the quarter, compared to the consensus estimate 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 last year, the company posted $0.42 EPS. On average, equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.92 earnings per share for the current year.
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 paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.87%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 69.19%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new stake in Hawaiian Electric Industries during the 2nd quarter valued at approximately $10,786,000. UBS Asset Management Americas Inc. boosted its stake in Hawaiian Electric Industries by 68.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 315,898 shares of the utilities provider’s stock valued at $13,757,000 after purchasing an additional 128,723 shares during the period. Citadel Advisors LLC boosted its stake in Hawaiian Electric Industries by 78.5% during the 2nd quarter. Citadel Advisors LLC now owns 9,935 shares of the utilities provider’s stock valued at $433,000 after purchasing an additional 4,370 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Hawaiian Electric Industries during the 2nd quarter valued at approximately $1,799,000. Finally, Point72 Hong Kong Ltd bought a new stake in Hawaiian Electric Industries during the 2nd quarter valued at approximately $62,000. Institutional investors own 53.54% of the company’s stock.
HE has been the topic of several research reports. JPMorgan Chase & Co. lowered Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $37.00 to $38.00 in a research report on Friday, August 9th. Zacks Investment Research downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 price target for the company. in a research note on Wednesday, May 29th.
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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