Hawaiian Electric Industries, Inc. (NYSE:HE) has received an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $32.33.

A number of equities research analysts have weighed in on the company. BidaskClub raised Hawaiian Electric Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th. Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America began coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, October 24th. They set an “underperform” rating and a $34.00 price target for the company. Finally, J P Morgan Chase & Co lifted their price target on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th.

In related news, Director Thomas B. Fargo sold 5,500 shares of Hawaiian Electric Industries stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc boosted its position in Hawaiian Electric Industries by 0.5% during the 2nd quarter. IFP Advisors Inc now owns 9,320 shares of the utilities provider’s stock worth $302,000 after purchasing an additional 42 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in Hawaiian Electric Industries by 0.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,146 shares of the utilities provider’s stock worth $329,000 after purchasing an additional 70 shares during the period. World Asset Management Inc boosted its position in Hawaiian Electric Industries by 2.2% during the 2nd quarter. World Asset Management Inc now owns 6,873 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 150 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Hawaiian Electric Industries by 0.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 28,710 shares of the utilities provider’s stock worth $930,000 after buying an additional 217 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Hawaiian Electric Industries by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after buying an additional 297 shares in the last quarter. 49.26% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries (NYSE HE) opened at $37.33 on Wednesday. The stock has a market capitalization of $4,121.90, a PE ratio of 23.25, a price-to-earnings-growth ratio of 5.44 and a beta of 0.50. Hawaiian Electric Industries has a twelve month low of $31.71 and a twelve month high of $38.72. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.77.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a return on equity of 8.64% and a net margin of 7.14%. The company had revenue of $673.19 million for the quarter, compared to analysts’ expectations of $648.93 million. During the same period in the prior year, the business earned $0.58 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. sell-side analysts forecast that Hawaiian Electric Industries will post 1.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd were given a dividend of $0.31 per share. The ex-dividend date was Tuesday, November 21st. This represents a $1.24 annualized dividend and a dividend yield of 3.32%. Hawaiian Electric Industries’s dividend payout ratio is currently 76.07%.

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About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc 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 subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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