Hawaiian Electric Industries, Inc. (NYSE:HE) Plans $0.35 Quarterly Dividend

Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Thursday, August 18th will be paid a dividend of 0.35 per share by the utilities provider on Friday, September 9th. This represents a $1.40 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Wednesday, August 17th.

Hawaiian Electric Industries has a dividend payout ratio of 60.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hawaiian Electric Industries to earn $2.29 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 61.1%.

Hawaiian Electric Industries Trading Up 0.0 %

Shares of Hawaiian Electric Industries stock traded up $0.01 on Friday, hitting $42.52. 321,030 shares of the company’s stock traded hands, compared to its average volume of 338,110. Hawaiian Electric Industries has a one year low of $37.94 and a one year high of $45.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.08 and a quick ratio of 0.08. The company has a fifty day moving average of $41.00 and a two-hundred day moving average of $41.67. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 6.10 and a beta of 0.30.

Hawaiian Electric Industries (NYSE:HEGet Rating) last issued its quarterly earnings results on Monday, May 9th. The utilities provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. Hawaiian Electric Industries had a return on equity of 10.71% and a net margin of 8.45%. The company had revenue of $785.07 million during the quarter. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, sell-side analysts expect that Hawaiian Electric Industries will post 2.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 19th.

Insider Activity

In other news, CFO Gregory C. Hazelton sold 22,000 shares of Hawaiian Electric Industries stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $42.25, for a total transaction of $929,500.00. Following the completion of the sale, the chief financial officer now directly owns 14,576 shares in the company, valued at $615,836. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.86% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HE. State Street Corp raised its holdings in shares of Hawaiian Electric Industries by 17.6% during the first quarter. State Street Corp now owns 3,718,688 shares of the utilities provider’s stock worth $157,338,000 after purchasing an additional 557,341 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in Hawaiian Electric Industries by 82.7% in the first quarter. Allianz Asset Management GmbH now owns 528,645 shares of the utilities provider’s stock valued at $22,367,000 after buying an additional 239,242 shares in the last quarter. Invesco Ltd. increased its holdings in Hawaiian Electric Industries by 17.4% in the first quarter. Invesco Ltd. now owns 785,738 shares of the utilities provider’s stock valued at $33,245,000 after buying an additional 116,721 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hawaiian Electric Industries by 10.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,178,517 shares of the utilities provider’s stock valued at $49,864,000 after buying an additional 114,232 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Hawaiian Electric Industries by 0.6% in the first quarter. Vanguard Group Inc. now owns 11,527,217 shares of the utilities provider’s stock valued at $487,716,000 after buying an additional 70,591 shares in the last quarter. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Hawaiian Electric Industries Company Profile

(Get Rating)

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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Dividend History for Hawaiian Electric Industries (NYSE:HE)

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