Hawaiian Electric Industries Inc. (HE) Shares Gap Up to $30.63
Hawaiian Electric Industries Inc. (NYSE:HE)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $30.59, but opened at $30.63. Hawaiian Electric Industries shares last traded at $30.93, with a volume of 308,792 shares traded.
Separately, Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Monday, August 8th.
The company has a market capitalization of $3.35 billion and a PE ratio of 19.64. The company has a 50-day moving average of $31.69 and a 200 day moving average of $31.78.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The business had revenue of $566.24 million for the quarter, compared to the consensus estimate of $622.85 million. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts expect that Hawaiian Electric Industries Inc. will post $1.69 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 24th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Monday, August 22nd.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $30.60, for a total value of $214,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds recently bought and sold shares of the company. Bank of Montreal Can raised its stake in Hawaiian Electric Industries by 3.9% in the fourth quarter. Bank of Montreal Can now owns 112,267 shares of the company’s stock worth $3,249,000 after buying an additional 4,204 shares during the period. Russell Frank Co raised its position in Hawaiian Electric Industries by 20.9% in the fourth quarter. Russell Frank Co now owns 65,793 shares of the company’s stock worth $1,918,000 after buying an additional 11,373 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Hawaiian Electric Industries by 23.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,060,005 shares of the company’s stock worth $30,687,000 after buying an additional 198,437 shares in the last quarter.
Hawaiian Electric Industries, Inc (HEI) 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 segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).
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