According to Zacks, “Hawaiian Electric continues to invest in infrastructure development projects and focuses on expanding its renewable assets, which will enable it to meet government regulations and drive growth over the long haul. The company maintains a stable liquidity position, which helps to execute various investor-friendly moves. However, the company's operations are also heavily dependent on weather conditions, hence any fluctuation impact the company’s performance adversely. Also, commodity price fluctuations and any delay in the supply of fuels may affect the company’s ability to generate power, which will ultimately impact its profit margins. Moreover, increasing stringent government regulations for curbing emissions is a major cause of concern.”
Shares of Hawaiian Electric Industries (NYSE:HE) opened at 28.7575 on Tuesday. The company has a market capitalization of $3.11 billion, a PE ratio of 18.2587 and a beta of 0.26. Hawaiian Electric Industries has a one year low of $27.30 and a one year high of $34.98. The stock has a 50 day moving average of $30.06 and a 200-day moving average of $31.78.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Hawaiian Electric Industries had a net margin of 6.97% and a return on equity of 9.26%. The company had revenue of $566.24 million for the quarter, compared to analyst estimates of $622.85 million. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis. On average, equities analysts forecast that Hawaiian Electric Industries will post $1.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 24th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Monday, August 22nd. Hawaiian Electric Industries’s payout ratio is currently 78.98%.
In related news, Director Barry K. Taniguchi sold 14,942 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $30.29, for a total transaction of $452,593.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director A Maurice Myers sold 34,500 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $30.47, for a total transaction of $1,051,215.00. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HE. Adage Capital Partners GP L.L.C. bought a new stake in shares of Hawaiian Electric Industries during the first quarter valued at approximately $25,920,000. JPMorgan Chase & Co. raised its stake in shares of Hawaiian Electric Industries by 102.5% in the first quarter. JPMorgan Chase & Co. now owns 1,236,476 shares of the company’s stock valued at $40,062,000 after buying an additional 625,788 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Hawaiian Electric Industries by 99.1% in the second quarter. First Trust Advisors LP now owns 823,800 shares of the company’s stock valued at $27,012,000 after buying an additional 410,137 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Hawaiian Electric Industries by 4.2% in the second quarter. Vanguard Group Inc. now owns 8,292,771 shares of the company’s stock valued at $271,920,000 after buying an additional 334,294 shares in the last quarter. Finally, CNH Partners LLC raised its stake in shares of Hawaiian Electric Industries by 6.8% in the second quarter. CNH Partners LLC now owns 2,828,745 shares of the company’s stock valued at $92,755,000 after buying an additional 179,857 shares in the last quarter. 43.80% of the stock is currently owned by institutional investors.
Hawaiian Electric Industries Company Profile
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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