Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of a significant growth in short interest in October. As of October 13th, there was short interest totalling 4,605,185 shares, a growth of 45.8% from the September 29th total of 3,158,482 shares. Based on an average trading volume of 460,953 shares, the days-to-cover ratio is presently 10.0 days. Currently, 4.3% of the company’s stock are short sold.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.55. The business had revenue of $673.19 million for the quarter, compared to analysts’ expectations of $648.93 million. Hawaiian Electric Industries had a return on equity of 8.83% and a net margin of 9.91%. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 22nd will be given a $0.31 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.42%. Hawaiian Electric Industries’s payout ratio is 55.11%.

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Hawaiian Electric Industries by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 9,685,627 shares of the utilities provider’s stock worth $322,628,000 after purchasing an additional 489,152 shares in the last quarter. BlackRock Inc. boosted its position in shares of Hawaiian Electric Industries by 6,287.3% in the 1st quarter. BlackRock Inc. now owns 9,095,425 shares of the utilities provider’s stock worth $302,969,000 after purchasing an additional 8,953,026 shares in the last quarter. State Street Corp boosted its position in shares of Hawaiian Electric Industries by 2.1% in the 2nd quarter. State Street Corp now owns 3,219,420 shares of the utilities provider’s stock worth $104,245,000 after purchasing an additional 64,949 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Hawaiian Electric Industries by 4.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,743,198 shares of the utilities provider’s stock worth $88,823,000 after purchasing an additional 113,307 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Hawaiian Electric Industries by 30.5% in the 2nd quarter. First Trust Advisors LP now owns 2,430,078 shares of the utilities provider’s stock worth $78,686,000 after purchasing an additional 568,063 shares in the last quarter. 48.17% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have commented on the company. Bank of America Corporation assumed coverage on Hawaiian Electric Industries in a report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 target price on the stock. Zacks Investment Research downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 13th. J P Morgan Chase & Co boosted their target price on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, BidaskClub raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Four analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. The stock presently has an average rating of “Sell” and a consensus target price of $32.33.

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About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc 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 subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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