Hawaiian Electric Industries, Inc. (HE) Given Consensus Recommendation of “Sell” by Analysts

Hawaiian Electric Industries, Inc. (NYSE:HE) has earned a consensus recommendation of “Sell” from the six analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $32.33.

HE has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. upped their price objective on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, Bank of America initiated coverage on shares of Hawaiian Electric Industries in a report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price objective for the company.

In related news, Director Thomas B. Fargo sold 5,500 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $36.46, for a total value of $200,530.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in Hawaiian Electric Industries by 35.1% during the second quarter. Stifel Financial Corp now owns 21,906 shares of the utilities provider’s stock valued at $705,000 after acquiring an additional 5,688 shares during the period. Marshall Wace North America L.P. bought a new stake in Hawaiian Electric Industries during the second quarter valued at about $1,031,000. Royal Bank of Canada boosted its holdings in Hawaiian Electric Industries by 42.3% during the second quarter. Royal Bank of Canada now owns 89,418 shares of the utilities provider’s stock valued at $2,895,000 after acquiring an additional 26,594 shares during the period. Wells Fargo & Company MN boosted its holdings in Hawaiian Electric Industries by 4.3% during the second quarter. Wells Fargo & Company MN now owns 2,743,198 shares of the utilities provider’s stock valued at $88,823,000 after acquiring an additional 113,307 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Hawaiian Electric Industries by 10.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 575,026 shares of the utilities provider’s stock valued at $18,620,000 after acquiring an additional 52,847 shares during the period. Institutional investors own 49.23% of the company’s stock.

Shares of Hawaiian Electric Industries (NYSE:HE) opened at $34.97 on Friday. The stock has a market cap of $3,805.33, a price-to-earnings ratio of 21.45, a P/E/G ratio of 4.58 and a beta of 0.50. Hawaiian Electric Industries has a fifty-two week low of $31.71 and a fifty-two week high of $38.72. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.77.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data 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). The business had revenue of $673.19 million during the quarter, compared to the consensus estimate of $648.93 million. Hawaiian Electric Industries had a return on equity of 8.64% and a net margin of 7.14%. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 earnings per share. analysts anticipate that Hawaiian Electric Industries will post 1.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date was Tuesday, November 21st. Hawaiian Electric Industries’s dividend payout ratio is presently 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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