Hawaiian Electric Industries, Inc. (NYSE:HE) Receives $38.80 Consensus Target Price from Brokerages

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have earned a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $38.80.

Separately, Zacks Investment Research raised Hawaiian Electric Industries from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a research note on Monday.

Several hedge funds have recently added to or reduced their stakes in HE. Rockefeller Capital Management L.P. bought a new position in Hawaiian Electric Industries during the second quarter valued at $29,000. Lazard Asset Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 1,333.3% in the first quarter. Lazard Asset Management LLC now owns 731 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 680 shares during the period. First National Bank of South Miami bought a new position in shares of Hawaiian Electric Industries in the third quarter worth $35,000. Dark Forest Capital Management LP bought a new position in shares of Hawaiian Electric Industries in the second quarter worth $46,000. Finally, Advisory Services Network LLC bought a new position in shares of Hawaiian Electric Industries in the second quarter worth $50,000. 52.63% of the stock is owned by institutional investors.

HE stock opened at $40.02 on Monday. The stock’s 50 day simple moving average is $42.53 and its 200 day simple moving average is $43.00. Hawaiian Electric Industries has a fifty-two week low of $31.83 and a fifty-two week high of $45.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market cap of $4.37 billion, a P/E ratio of 18.03, a price-to-earnings-growth ratio of 2.66 and a beta of 0.24.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Monday, August 9th. The utilities provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.20. Hawaiian Electric Industries had a return on equity of 10.51% and a net margin of 9.39%. The business had revenue of $680.26 million for the quarter. Equities analysts predict that Hawaiian Electric Industries will post 2.15 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Thursday, August 19th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Wednesday, August 18th. Hawaiian Electric Industries’s dividend payout ratio is presently 75.14%.

About Hawaiian Electric Industries

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 in the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.

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