Hawaiian Electric Industries (NYSE:HE) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HEGet Rating) from a hold rating to a buy rating in a report published on Thursday morning.

Several other research analysts have also commented on the company. Guggenheim raised Hawaiian Electric Industries from a sell rating to a neutral rating and set a $41.00 price objective for the company in a report on Thursday, January 20th. Zacks Investment Research lowered Hawaiian Electric Industries from a hold rating to a sell rating and set a $45.00 price objective for the company. in a report on Tuesday, March 8th.

Shares of HE stock opened at $41.99 on Thursday. The company has a market capitalization of $4.60 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 6.04 and a beta of 0.28. Hawaiian Electric Industries has a 52-week low of $37.94 and a 52-week high of $45.53. The business’s fifty day moving average is $42.38 and its 200 day moving average is $41.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.08 and a current ratio of 0.08.

Hawaiian Electric Industries (NYSE:HEGet Rating) last announced its earnings results on Monday, May 9th. The utilities provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.21. Hawaiian Electric Industries had a return on equity of 10.71% and a net margin of 8.45%. The business had revenue of $785.07 million for the quarter. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, sell-side analysts forecast that Hawaiian Electric Industries will post 2.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Friday, May 20th will be given a $0.35 dividend. The ex-dividend date is Thursday, May 19th. This represents a $1.40 annualized dividend and a yield of 3.33%. Hawaiian Electric Industries’s payout ratio is currently 61.14%.

Several institutional investors have recently made changes to their positions in HE. Covestor Ltd purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth $29,000. Meeder Asset Management Inc. purchased a new stake in Hawaiian Electric Industries in the first quarter worth $29,000. Masso Torrence Wealth Management Inc. purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth $35,000. Bank of New Hampshire purchased a new stake in Hawaiian Electric Industries in the first quarter worth $36,000. Finally, Trust Co. of Vermont purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth $64,000. Institutional investors own 52.08% of the company’s stock.

About Hawaiian Electric Industries (Get Rating)

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.

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