Hawaiian Electric Industries Inc. (NYSE:HE) shares traded -1.12% lower at $39.57 on Wall Street last session.
HE stock price is now -5.28% away from the 50-day moving average and -1.67% away from the 200-day moving average. The market capitalization of the company currently stands at $4.34B.
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With the price target maintained at $43, BofA Securities recently Downgraded its rating from Neutral to Underperform for Hawaiian Electric Industries Inc. (NYSE: HE). On January 20, 2022, Guggenheim Upgraded its previous ‘Sell’ rating to ‘Neutral’ on the stock keeping its target price maintained at $41, while ‘Evercore ISI’ rates the stock as ‘In-line’.
In other news, Hazelton Gregory C, EVP & CFO sold 22,000 shares of the company’s stock on May 19. The stock was sold for $929,500 at an average price of $42.25. Upon completion of the transaction, the EVP & CFO now directly owns 14,576 shares in the company, valued at $0.58 million. Insiders disposed of 22,348 shares of company stock worth roughly $0.88 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in HE stock. A new stake in Hawaiian Electric Industries Inc. shares was purchased by AMALGAMATED FINANCIAL CORP. during the first quarter worth $2,965,000. HSBC HOLDINGS PLC invested $2,261,000 in shares of HE during the first quarter. In the first quarter, PACER ADVISORS, INC. acquired a new stake in Hawaiian Electric Industries Inc. valued at approximately $1,088,000. EDGESTREAM PARTNERS, L.P. acquired a new stake in HE for approximately $623,000. NATIXIS purchased a new stake in HE valued at around $566,000 in the second quarter. In total, there are 444 active investors with 58.10% ownership of the company’s stock.
Hawaiian Electric Industries Inc. (NYSE: HE) opened at $39.99 on Monday. During the past 12 months, Hawaiian Electric Industries Inc. has had a low of $33.18 and a high of $44.72. The fifty day moving average price for HE is $41.77 and a two-hundred day moving average price translates $40.24 for the stock.
The latest earnings results from Hawaiian Electric Industries Inc. (NYSE: HE) was released for Sep, 2022. According to the Utilities – Diversified Company, earnings per share came in at $0.57, beating analysts’ expectations of $0.55 by 0.02. This compares to $0.50 EPS in the same period last year. The net profit margin was 6.40% and return on equity was 10.80% for HE. The company reported revenue of $1.02 billion for the quarter, compared to $770.27 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 32.31 percent. For the current quarter, analysts expect HE to generate $771.7M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/10/2023. Investors who held shares on 02/23/2023 were paid a $0.36 dividend. On an annualized basis, this represents a $1.44 dividend and a 3.64% percent yield. There was an ex-dividend date of 02/22/2023 for this dividend. In terms of dividend payout ratio, HE is presently at 63.50%.
Hawaiian Electric Industries Inc.(HE) Company Profile
Hawaiian Electric Industries, Inc., together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other biofuels. This segment serves suburban communities, resorts, the United States armed forces installations, and agricultural operations. The Bank segment operates a community bank that offers banking and other financial services to consumers and businesses, including savings and checking accounts; and loans comprising residential and commercial real estate, residential mortgage, construction and development, multifamily residential and commercial real estate, consumer, and commercial loans. This segment operates 42 branches, including 29 branches in Oahu, 6 branches in Maui, 4 branches in Hawaii, 2 branches in Kauai, and 1 branch in Molokai. The Other segment invests in non-regulated renewable energy and sustainable infrastructure in the State of Hawaii. Hawaiian Electric Industries Inc. was incorporated in 1891 and is headquartered in Honolulu, Hawaii.
