Hawaiian Electric Industries, Inc. (NYSE:HE) – Research analysts at Gabelli lifted their FY2018 earnings per share estimates for shares of Hawaiian Electric Industries in a report issued on Thursday. Gabelli analyst T. Winter now forecasts that the utilities provider will earn $1.80 per share for the year, up from their previous estimate of $1.75. Gabelli also issued estimates for Hawaiian Electric Industries’ FY2019 earnings at $1.90 EPS, FY2020 earnings at $2.00 EPS, FY2021 earnings at $2.15 EPS and FY2022 earnings at $2.30 EPS.
Several other research analysts have also recently weighed in on the company. UBS Group began coverage on Hawaiian Electric Industries in a research report on Friday, February 2nd. They issued a “sell” rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Bank of America began coverage on Hawaiian Electric Industries in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price objective on the stock. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock has a consensus rating of “Sell” and a consensus price target of $31.00.
Hawaiian Electric Industries (NYSE:HE) opened at $33.70 on Monday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. Hawaiian Electric Industries has a 1 year low of $31.71 and a 1 year high of $38.72. The firm has a market capitalization of $3,666.09, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 3.52 and a beta of 0.37.
Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Wednesday, February 14th. The utilities provider reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Hawaiian Electric Industries had a return on equity of 8.71% and a net margin of 6.54%. The business had revenue of $658.60 million for the quarter, compared to analysts’ expectations of $547.89 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 6.7% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.68%. Hawaiian Electric Industries’s dividend payout ratio is presently 81.58%.
Several hedge funds and other institutional investors have recently modified their holdings of HE. Janus Henderson Group PLC purchased a new position in shares of Hawaiian Electric Industries during the 2nd quarter valued at $9,795,000. WINTON GROUP Ltd purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at $7,074,000. Wells Fargo & Company MN lifted its position in shares of Hawaiian Electric Industries by 5.8% during the 3rd quarter. Wells Fargo & Company MN now owns 2,901,104 shares of the utilities provider’s stock valued at $96,810,000 after buying an additional 157,906 shares during the last quarter. BlackRock Inc. lifted its position in shares of Hawaiian Electric Industries by 1.5% during the 4th quarter. BlackRock Inc. now owns 9,101,455 shares of the utilities provider’s stock valued at $329,016,000 after buying an additional 135,628 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Hawaiian Electric Industries by 48.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 406,788 shares of the utilities provider’s stock valued at $13,697,000 after buying an additional 132,935 shares during the last quarter. 49.19% of the stock is currently owned by hedge funds and other institutional investors.
Hawaiian Electric Industries Company Profile
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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