Hawaiian Electric Industries, Inc. (NYSE:HE) declared a quarterly dividend on Wednesday, November 1st, RTT News reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.31 per share by the utilities provider on Tuesday, December 12th. This represents a $1.24 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, November 21st.
Hawaiian Electric Industries has a payout ratio of 76.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Hawaiian Electric Industries to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 68.9%.
Hawaiian Electric Industries (NYSE:HE) traded down 0.66% during trading on Wednesday, reaching $36.22. 31,321 shares of the company’s stock traded hands. The company has a 50-day moving average price of $34.37 and a 200 day moving average price of $33.41. The firm has a market capitalization of $3.94 billion, a PE ratio of 16.13 and a beta of 0.47. Hawaiian Electric Industries has a one year low of $28.43 and a one year high of $36.55.
Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). Hawaiian Electric Industries had a return on equity of 8.83% and a net margin of 9.91%. The business had revenue of $556.90 million for the quarter, compared to analysts’ expectations of $568.00 million. During the same period in the previous year, the company earned $0.43 EPS. Hawaiian Electric Industries’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, analysts anticipate that Hawaiian Electric Industries will post $1.63 earnings per share for the current fiscal year.
A number of equities research analysts recently issued reports on HE shares. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. J P Morgan Chase & Co upped their price objective on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Finally, Bank of America Corporation started 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. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company presently has a consensus rating of “Sell” and an average price target of $32.33.
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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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