Hawaiian Electric Industries Inc. (HE) Shares Gap Up to $30.63
Shares of Hawaiian Electric Industries Inc. (NYSE:HE) gapped up prior to trading 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 trading hands.
Separately, Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday.
The company’s 50 day moving average price is $31.79 and its 200 day moving average price is $31.76. The firm has a market capitalization of $3.35 billion and a price-to-earnings ratio of 19.68.
Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. During the same period last year, the company earned $0.39 EPS. The business earned $566.24 million during the quarter, compared to the consensus estimate of $622.85 million. The business’s revenue was down 9.2% compared to the same quarter last year. Equities research analysts forecast that Hawaiian Electric Industries Inc. will post $1.69 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Wednesday, August 24th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.00%. The ex-dividend date is Monday, August 22nd.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 7,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $30.60, for a total value of $214,200.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Other institutional investors have made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of 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 valued at $30,687,000 after buying an additional 198,437 shares during the period. Principal Financial Group Inc. increased its position in shares of Hawaiian Electric Industries by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 338,892 shares of the company’s stock valued at $9,811,000 after buying an additional 3,342 shares during the period. Bank of Montreal Can increased its position in shares of Hawaiian Electric Industries by 3.9% in the fourth quarter. Bank of Montreal Can now owns 112,267 shares of the company’s stock valued at $3,249,000 after buying an additional 4,204 shares during the period. Finally, Russell Frank Co boosted its stake in shares of Hawaiian Electric Industries by 20.9% in the fourth quarter. Russell Frank Co now owns 65,793 shares of the company’s stock valued at $1,918,000 after buying an additional 11,373 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.