Hawaiian Electric Industries Upgraded to “Neutral” at ISI Group (HE)
Hawaiian Electric Industries (NYSE:HE) was upgraded by equities research analysts at ISI Group from a “cautious” rating to a “neutral” rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $25.00 target price on the stock, up from their previous target price of $23.00. ISI Group’s target price suggests a potential downside of 1.73% from the company’s current price.
HE has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Hawaiian Electric Industries in a research note on Monday, August 4th. They now have a $25.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. set a $23.00 price target on shares of Hawaiian Electric Industries in a research note on Wednesday, July 9th. They now have a “neutral” rating on the stock. Finally, analysts at TheStreet upgraded shares of Hawaiian Electric Industries to a “buy” rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $24.63.
Shares of Hawaiian Electric Industries (NYSE:HE) traded up 0.20% during mid-day trading on Tuesday, hitting $25.44. The stock had a trading volume of 1,353,619 shares. Hawaiian Electric Industries has a one year low of $22.71 and a one year high of $27.15. The stock has a 50-day moving average of $24.22 and a 200-day moving average of $24.53. The company has a market cap of $2.609 billion and a P/E ratio of 14.68.
Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Monday, August 11th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.38 by $0.03. The company had revenue of $798.70 million for the quarter, compared to the consensus estimate of $795.97 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Hawaiian Electric Industries will post $1.62 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Wednesday, August 20th.
Hawaiian Electric Industries, Inc (NYSE:HE) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii.
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