Hawaiian Electric Industries (NYSE:HE) Reaches New 12-Month High at $45.62

Hawaiian Electric Industries, Inc. (NYSE:HE) shares hit a new 52-week high on Wednesday . The company traded as high as $45.62 and last traded at $45.60, with a volume of 10696 shares changing hands. The stock had previously closed at $45.23.

HE has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $37.00 to $38.00 in a report on Friday, August 9th. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $47.00 price objective on the stock in a report on Friday, September 6th. Finally, UBS Group lifted their price objective on Hawaiian Electric Industries from $35.00 to $37.00 and gave the company a “sell” rating in a report on Friday, September 13th.

The stock has a fifty day simple moving average of $44.40 and a two-hundred day simple moving average of $42.82. The company has a market cap of $4.93 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 5.99 and a beta of 0.21. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.96.



Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.05). Hawaiian Electric Industries had a net margin of 7.07% and a return on equity of 9.47%. The business had revenue of $715.49 million during the quarter, compared to analysts’ expectations of $592.84 million. During the same period in the prior year, the firm posted $0.42 EPS. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Wednesday, August 21st. Hawaiian Electric Industries’s dividend payout ratio is presently 69.19%.

In other news, Director Jeffrey N. Watanabe sold 5,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $44.21, for a total transaction of $251,997.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Micah A. Kane sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $44.60, for a total value of $124,880.00. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Macquarie Group Ltd. boosted its stake in shares of Hawaiian Electric Industries by 92.5% during the 2nd quarter. Macquarie Group Ltd. now owns 25,600 shares of the utilities provider’s stock worth $1,115,000 after acquiring an additional 12,300 shares in the last quarter. Hancock Whitney Corp lifted its stake in Hawaiian Electric Industries by 13.8% in the 2nd quarter. Hancock Whitney Corp now owns 46,941 shares of the utilities provider’s stock valued at $2,044,000 after buying an additional 5,679 shares in the last quarter. Atria Investments LLC purchased a new stake in Hawaiian Electric Industries in the 2nd quarter valued at approximately $275,000. Prudential PLC lifted its stake in Hawaiian Electric Industries by 20.5% in the 2nd quarter. Prudential PLC now owns 9,400 shares of the utilities provider’s stock valued at $409,000 after buying an additional 1,600 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Hawaiian Electric Industries by 8.5% in the 2nd quarter. Royal Bank of Canada now owns 446,935 shares of the utilities provider’s stock valued at $19,464,000 after buying an additional 34,825 shares in the last quarter. 54.12% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Company Profile (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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