Insider Selling: Hawaiian Electric Industries, Inc. (NYSE:HE) Director Sells 5,700 Shares of Stock

Hawaiian Electric Industries, Inc. (NYSE:HE) Director Jeffrey N. Watanabe sold 5,700 shares of Hawaiian Electric Industries stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $44.21, for a total value of $251,997.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of HE traded down $0.11 during trading hours on Wednesday, hitting $44.20. 267,041 shares of the company were exchanged, compared to its average volume of 359,837. The company has a market capitalization of $4.83 billion, a P/E ratio of 23.89, a PEG ratio of 4.11 and a beta of 0.23. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.96. The business’s fifty day moving average is $44.28. Hawaiian Electric Industries, Inc. has a one year low of $34.78 and a one year high of $45.19.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.05). The company had revenue of $715.49 million for the quarter, compared to the consensus estimate of $592.84 million. Hawaiian Electric Industries had a return on equity of 9.47% and a net margin of 7.07%. During the same period in the prior year, the business earned $0.42 earnings per share. Equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.95 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, August 21st. Hawaiian Electric Industries’s dividend payout ratio is presently 69.19%.

Several equities research analysts have recently weighed in on HE shares. JPMorgan Chase & Co. lowered Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $37.00 to $38.00 in a research note on Friday, August 9th. Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Wednesday, May 29th.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of Hawaiian Electric Industries by 60.9% in the first quarter. Signaturefd LLC now owns 872 shares of the utilities provider’s stock worth $36,000 after buying an additional 330 shares during the period. Personal Wealth Partners acquired a new stake in shares of Hawaiian Electric Industries in the second quarter worth $48,000. Flagship Harbor Advisors LLC boosted its position in shares of Hawaiian Electric Industries by 153.7% in the second quarter. Flagship Harbor Advisors LLC now owns 1,139 shares of the utilities provider’s stock worth $49,000 after buying an additional 690 shares during the period. Westside Investment Management Inc. acquired a new stake in shares of Hawaiian Electric Industries in the second quarter worth $52,000. Finally, CWM LLC boosted its position in shares of Hawaiian Electric Industries by 40.0% in the second quarter. CWM LLC now owns 1,329 shares of the utilities provider’s stock worth $58,000 after buying an additional 380 shares during the period. 53.54% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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