Wells Fargo & Co. Reiterates Outperform Rating for Hawaiian Electric Industries (HE)
Shares of Hawaiian Electric Industries (NYSE:HE) opened at 25.39 on Tuesday. Hawaiian Electric Industries has a 1-year low of $22.71 and a 1-year high of $27.15. The stock’s 50-day moving average is $24.22 and its 200-day moving average is $24.53. The company has a market cap of $2.604 billion and a P/E ratio of 14.67.
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. Analysts expect that Hawaiian Electric Industries will post $1.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 22nd will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Wednesday, August 20th.
A number of other analysts have also recently weighed in on HE. Analysts at ISI Group upgraded shares of Hawaiian Electric Industries from a “cautious” rating to a “neutral” rating in a research note on Tuesday. They now have a $25.00 price target on the stock, up previously from $23.00. Separately, 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. Finally, 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $24.63.
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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