In yesterday’s Wall Street session, Hawaiian Electric Industries Inc. (NYSE:HE) shares traded at $12.42, down -17.48% from the previous session.
As of this writing, 4 analysts cover Hawaiian Electric Industries Inc. (NYSE:HE). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $11.00 and a low of $8.00, we find $8.50. Given the previous closing price of $15.05, this indicates a potential downside of -43.52 percent. HE stock price is now -58.81% away from the 50-day moving average and -66.61% away from the 200-day moving average. The market capitalization of the company currently stands at $1.27B.
There are 3 analysts who have given it a hold rating, whereas 0 have given it a buy rating. Brokers who have rated the stock have averaged $9.17 as their price target over the next twelve months.
With the price target reduced from $25 to $8, Wells Fargo Upgraded its rating from Underweight to Equal Weight for Hawaiian Electric Industries Inc. (NYSE: HE).
In other news, RUSSELL KEITH P, Director sold 10,000 shares of the company’s stock on Mar 08. The stock was sold for $392,120 at an average price of $39.21. Upon completion of the transaction, the Director now directly owns 23,447 shares in the company, valued at $0.29 million. Insiders disposed of 29,106 shares of company stock worth roughly $0.36 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 NATIONAL BANK OF CANADA /FI/ during the first quarter worth $679,000. ELEMENT CAPITAL MANAGEMENT LLC invested $653,000 in shares of HE during the first quarter. In the first quarter, PROSTATIS GROUP LLC acquired a new stake in Hawaiian Electric Industries Inc. valued at approximately $366,000. STATE OF TENNESSEE, TREASURY DEPARTMENT acquired a new stake in HE for approximately $348,000. CORNERCAP INVESTMENT COUNSEL INC purchased a new stake in HE valued at around $332,000 in the second quarter. In total, there are 441 active investors with 58.10% ownership of the company’s stock.
Tuesday morning saw Hawaiian Electric Industries Inc. (NYSE: HE) opened at $14.45. During the past 12 months, Hawaiian Electric Industries Inc. has had a low of $9.06 and a high of $43.71. According to the stock market information, the enterprise value for the company is $4.94B, which is based on a 5.96 price-to-earnings ratio, a 1.42 price-to-earnings-growth ratio, and a beta of 0.51. The fifty day moving average price for HE is $29.68 and a two-hundred day moving average price translates $37.06 for the stock.
The latest earnings results from Hawaiian Electric Industries Inc. (NYSE: HE) was released for Jun, 2023. According to the Utilities – Regulated Electric Company, earnings per share came in at $0.5, missing analysts’ expectations of $0.52 by -0.02. This compares to $0.48 EPS in the same period last year. The net profit margin was 5.90% and return on equity was 10.30% for HE. The company reported revenue of $895.68 million for the quarter, compared to $895.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.01 percent. For the current quarter, analysts expect HE to generate $863.19M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/08/2023. Investors who held shares on 08/18/2023 were paid a $0.36 dividend.
Hawaiian Electric Industries Inc.(HE) Company Profile
Hawaiian Electric Industries, Inc., together with its subsidiaries, engages in the electric utility, banking, and non-regulated renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates through 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 branches in Oahu, Maui, Hawaii, Kauai, and 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.
