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) traded down 0.52% on Tuesday, hitting $28.79. 157,774 shares of the stock traded hands. The stock has a 50-day moving average price of $30.15 and a 200 day moving average price of $31.83. The firm has a market cap of $3.11 billion, a P/E ratio of 18.28 and a beta of 0.26. Hawaiian Electric Industries has a 52 week low of $27.30 and a 52 week high of $34.98.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The company earned $566.24 million during the quarter, compared to the consensus estimate of $622.85 million. Hawaiian Electric Industries had a net margin of 6.97% and a return on equity of 9.26%. Hawaiian Electric Industries’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. Equities research analysts predict that Hawaiian Electric Industries will post $1.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 24th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend was Monday, August 22nd. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 78.98%.
In other Hawaiian Electric Industries news, EVP Chester A. Richardson sold 15,921 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $30.16, for a total value of $480,177.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry K. Taniguchi sold 14,942 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $30.29, for a total transaction of $452,593.18. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC increased its position in shares of Hawaiian Electric Industries by 2.2% in the first quarter. Renaissance Technologies LLC now owns 871,400 shares of the company’s stock valued at $28,233,000 after buying an additional 18,800 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Hawaiian Electric Industries by 1.6% in the first quarter. BlackRock Fund Advisors now owns 3,705,924 shares of the company’s stock valued at $120,072,000 after buying an additional 59,133 shares during the period. IFP Advisors Inc boosted its stake in Hawaiian Electric Industries by 2.6% in the first quarter. IFP Advisors Inc now owns 8,098 shares of the company’s stock valued at $262,000 after buying an additional 209 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Hawaiian Electric Industries by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,085,611 shares of the company’s stock valued at $99,974,000 after buying an additional 28,984 shares during the period. Finally, BlackRock Group LTD boosted its stake in Hawaiian Electric Industries by 24.5% in the first quarter. BlackRock Group LTD now owns 74,393 shares of the company’s stock valued at $2,409,000 after buying an additional 14,643 shares during the period. 43.80% of the stock is owned by hedge funds and other 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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