Hawaiian Electric Industries (NYSE:HE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Hawaiian Electric Industries (NYSE:HE – Get Rating) in a report issued on Thursday morning. The brokerage issued a hold rating on the utilities provider’s stock.

Several other analysts also recently issued reports on HE. Wells Fargo & Company lifted their price target on Hawaiian Electric Industries from $39.00 to $42.00 and gave the company an underweight rating in a research note on Tuesday, January 10th. Evercore ISI set a $36.00 target price on Hawaiian Electric Industries in a research report on Thursday, November 24th. Finally, Guggenheim lowered their target price on Hawaiian Electric Industries from $43.00 to $42.00 and set a neutral rating on the stock in a research report on Wednesday, February 15th.

Hawaiian Electric Industries Stock Performance

HE opened at $37.57 on Thursday. The business’s 50-day moving average price is $41.04 and its two-hundred day moving average price is $39.55. Hawaiian Electric Industries has a 1 year low of $33.18 and a 1 year high of $44.72. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 5.49 and a beta of 0.41. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.08 and a quick ratio of 0.08.

Hawaiian Electric Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Thursday, February 23rd were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Wednesday, February 22nd. This is an increase from Hawaiian Electric Industries’s previous quarterly dividend of $0.35. Hawaiian Electric Industries’s payout ratio is 65.45%.

Insiders Place Their Bets

In other Hawaiian Electric Industries news, Director Keith P. Russell sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $39.21, for a total transaction of $392,100.00. Following the transaction, the director now owns 23,447 shares of the company’s stock, valued at $919,356.87. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.86% of the company’s stock.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its position in Hawaiian Electric Industries by 414.0% during the second quarter. Quadrant Capital Group LLC now owns 622 shares of the utilities provider’s stock worth $25,000 after buying an additional 501 shares during the last quarter. WASHINGTON TRUST Co bought a new stake in shares of Hawaiian Electric Industries during the third quarter worth approximately $26,000. Lazard Asset Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 1,468.6% during the second quarter. Lazard Asset Management LLC now owns 800 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 749 shares during the period. Ronald Blue Trust Inc. boosted its holdings in shares of Hawaiian Electric Industries by 212.9% during the third quarter. Ronald Blue Trust Inc. now owns 779 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 530 shares during the period. Finally, BerganKDV Wealth Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 60.0% during the third quarter. BerganKDV Wealth Management LLC now owns 1,008 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 52.99% of the company’s stock.

Hawaiian Electric Industries Company Profile

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Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.