Hawaiian Electric Industries Inc. (HE) Sees Large Volume Increase
Shares of Hawaiian Electric Industries Inc. (NYSE:HE) saw unusually-strong trading volume on Wednesday . Approximately 1,485,780 shares traded hands during trading, an increase of 155% from the previous session’s volume of 581,769 shares.The stock last traded at $30.01 and had previously closed at $29.83.
Separately, Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, August 8th.
The company has a market cap of $3.25 billion and a price-to-earnings ratio of 19.05. The stock has a 50-day moving average of $30.68 and a 200 day moving average of $31.86.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.40 by $0.03. During the same period last year, the business posted $0.39 earnings per share. The business had revenue of $566.24 million for the quarter, compared to analysts’ expectations of $622.85 million. The company’s revenue was down 9.2% compared to the same quarter last year. On average, equities research analysts predict that Hawaiian Electric Industries Inc. will post $1.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 24th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Monday, August 22nd.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 7,000 shares of Hawaiian Electric Industries stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $30.60, for a total transaction of $214,200.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Chester A. Richardson sold 15,921 shares of Hawaiian Electric Industries stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $30.16, for a total transaction of $480,177.36. The disclosure for this sale can be found here.
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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