Hawaiian Electric Industries Inc. (HE) To Go Ex-Dividend on November 18th
Hawaiian Electric Industries Inc. (NYSE:HE) declared a quarterly dividend on Wednesday, November 2nd. Shareholders of record on Tuesday, November 22nd will be given a dividend of 0.31 per share on Tuesday, December 13th. This represents a $1.24 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, November 18th.
Hawaiian Electric Industries (NYSE:HE) opened at 29.98 on Thursday. Hawaiian Electric Industries has a 12-month low of $27.30 and a 12-month high of $34.98. The firm has a market cap of $3.25 billion, a P/E ratio of 13.21 and a beta of 0.25. The firm’s 50-day moving average price is $29.15 and its 200 day moving average price is $31.12.
Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Wednesday, November 9th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $646.05 million for the quarter, compared to analysts’ expectations of $728.12 million. Hawaiian Electric Industries had a net margin of 10.38% and a return on equity of 9.64%. The company’s revenue was down 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Analysts forecast that Hawaiian Electric Industries will post $1.67 earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday, August 8th.
In other news, EVP Chester A. Richardson sold 15,921 shares of Hawaiian Electric Industries stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $30.16, for a total transaction of $480,177.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barry K. Taniguchi sold 14,942 shares of Hawaiian Electric Industries stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $452,593.18. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Analytic Investors LLC raised its position in shares of Hawaiian Electric Industries by 0.6% in the second quarter. Analytic Investors LLC now owns 239,573 shares of the company’s stock worth $7,856,000 after buying an additional 1,334 shares during the period. Pacad Investment Ltd. purchased a new position in Hawaiian Electric Industries during the second quarter valued at about $105,000. Janney Montgomery Scott LLC purchased a new position in Hawaiian Electric Industries during the second quarter valued at about $1,004,000. Comerica Bank raised its position in Hawaiian Electric Industries by 2.7% in the second quarter. Comerica Bank now owns 83,381 shares of the company’s stock valued at $2,549,000 after buying an additional 2,153 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Hawaiian Electric Industries by 5.1% in the second quarter. HighTower Advisors LLC now owns 12,319 shares of the company’s stock valued at $405,000 after buying an additional 598 shares during the last quarter. Institutional investors own 44.98% of the company’s stock.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc (HEI) 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 segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).
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