Hawaiian Electric Industries Inc. (HE) Trading Down 3%
Hawaiian Electric Industries Inc. (NYSE:HE)’s share price was down 3% during trading on Thursday . The company traded as low as $32.06 and last traded at $32.08, with a volume of 244,471 shares traded. The stock had previously closed at $33.08.
A number of equities analysts recently commented on HE shares. Barclays PLC boosted their target price on shares of Hawaiian Electric Industries from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, March 18th. Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, March 29th.
The firm’s 50 day moving average price is $33.25 and its 200 day moving average price is $31.36. The company has a market capitalization of $3.45 billion and a PE ratio of 21.53.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.06. During the same quarter in the prior year, the company posted $0.35 earnings per share. The business had revenue of $550.96 million for the quarter, compared to the consensus estimate of $588.65 million. The firm’s revenue for the quarter was down 13.6% compared to the same quarter last year. Equities analysts predict that Hawaiian Electric Industries Inc. will post $1.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend was Thursday, May 26th.
Several institutional investors have modified their holdings of HE. OTA Financial Group L.P. acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $1,514,000. Russell Frank Co raised its stake 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 during the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in Hawaiian Electric Industries by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 69,226 shares of the company’s stock worth $2,004,000 after buying an additional 23,500 shares during the last quarter. 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 last quarter. Finally, Retirement Systems of Alabama raised its stake in Hawaiian Electric Industries by 1.3% in the fourth quarter. Retirement Systems of Alabama now owns 138,079 shares of the company’s stock worth $3,997,000 after buying an additional 1,803 shares during 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).