Hawaiian Electric Industries (NYSE:HE) PT Raised to $37.00

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Hawaiian Electric Industries (NYSE:HE) had its target price increased by UBS Group from $35.00 to $37.00 in a report published on Friday morning, BenzingaRatingsTable reports. UBS Group currently has a sell rating on the utilities provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a sell rating to a hold rating and set a $47.00 target price for the company in a research note on Friday, September 6th. JPMorgan Chase & Co. cut shares of Hawaiian Electric Industries from a neutral rating to an underweight rating and lifted their target price for the company from $37.00 to $38.00 in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Hawaiian Electric Industries has a consensus rating of Sell and a consensus target price of $38.60.

Shares of HE opened at $44.12 on Friday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 5.98 and a beta of 0.21. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.96. Hawaiian Electric Industries has a 12 month low of $34.78 and a 12 month high of $45.60. The company has a 50-day moving average price of $44.39 and a two-hundred day moving average price of $42.45.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Hawaiian Electric Industries had a net margin of 7.07% and a return on equity of 9.47%. The firm had revenue of $715.49 million during the quarter, compared to the consensus estimate of $592.84 million. During the same quarter last year, the firm posted $0.42 EPS. Equities research analysts expect that Hawaiian Electric Industries will post 1.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Wednesday, August 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is currently 69.19%.

In related news, Director Jeffrey N. Watanabe sold 5,700 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $44.21, for a total value of $251,997.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Micah A. Kane sold 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $44.60, for a total transaction of $124,880.00. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.

Several institutional investors have recently modified their holdings of HE. Geode Capital Management LLC increased its holdings in shares of Hawaiian Electric Industries by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 1,080,009 shares of the utilities provider’s stock valued at $39,549,000 after purchasing an additional 66,153 shares in the last quarter. Bank of Montreal Can grew its holdings in Hawaiian Electric Industries by 8.9% during the 1st quarter. Bank of Montreal Can now owns 11,151 shares of the utilities provider’s stock worth $455,000 after acquiring an additional 916 shares during the period. Janus Henderson Group PLC grew its holdings in Hawaiian Electric Industries by 7.6% during the 1st quarter. Janus Henderson Group PLC now owns 220,237 shares of the utilities provider’s stock worth $8,979,000 after acquiring an additional 15,471 shares during the period. Rhumbline Advisers grew its holdings in Hawaiian Electric Industries by 0.3% during the 1st quarter. Rhumbline Advisers now owns 319,078 shares of the utilities provider’s stock worth $13,009,000 after acquiring an additional 1,079 shares during the period. Finally, Systematic Financial Management LP acquired a new stake in Hawaiian Electric Industries during the 1st quarter worth $1,405,000. 54.12% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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