Hawaiian Electric Industries, Inc. (NYSE:HE) announced a quarterly dividend on Wednesday, August 2nd, Wall Street Journal reports. Stockholders of record on Wednesday, August 23rd will be paid a dividend of 0.31 per share by the utilities provider on Tuesday, September 12th. This represents a $1.24 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, August 21st.

Hawaiian Electric Industries has a payout ratio of 75.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research 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%.

Shares of Hawaiian Electric Industries (NYSE HE) traded up 0.03% during mid-day trading on Friday, hitting $33.02. 419,717 shares of the stock traded hands. The company has a market cap of $3.59 billion, a P/E ratio of 14.70 and a beta of 0.46. The firm has a 50 day moving average of $32.61 and a 200 day moving average of $33.09. Hawaiian Electric Industries has a 12 month low of $28.31 and a 12 month high of $34.08.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by $0.03. The firm had revenue of $556.90 million during the quarter, compared to analyst estimates of $568 million. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Equities analysts anticipate that Hawaiian Electric Industries will post $1.63 EPS for the current fiscal year.

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A number of equities research analysts have recently issued reports on the stock. Barclays PLC reissued an “underweight” rating and issued a $29.00 price target (up from $27.00) on shares of Hawaiian Electric Industries in a research note on Sunday, April 23rd. BidaskClub downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, May 26th.

Hawaiian Electric Industries Company Profile

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).

Dividend History for Hawaiian Electric Industries (NYSE:HE)

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