Short Interest in Hawaiian Electric Industries, Inc. (HE) Expands By 45.8%
Hawaiian Electric Industries, Inc. (NYSE:HE) was the recipient of a significant growth in short interest during the month of October. As of October 13th, there was short interest totalling 4,605,185 shares, a growth of 45.8% from the September 29th total of 3,158,482 shares. Currently, 4.3% of the shares of the stock are short sold. Based on an average daily volume of 460,953 shares, the short-interest ratio is currently 10.0 days.
HE has been the subject of several recent analyst reports. BidaskClub upgraded Hawaiian Electric Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 19th. Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. J P Morgan Chase & Co upped their target price on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Finally, Bank of America Corporation initiated coverage on Hawaiian Electric Industries in a research note on Tuesday, October 24th. They set an “underperform” rating and a $34.00 target price for the company. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock currently has a consensus rating of “Sell” and an average target price of $32.33.
Institutional investors and hedge funds have recently made changes to their positions in the company. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Hawaiian Electric Industries in the 2nd quarter valued at $123,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hawaiian Electric Industries by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 297 shares during the last quarter. Ffcm LLC lifted its stake in shares of Hawaiian Electric Industries by 121.0% in the 2nd quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 2,642 shares during the last quarter. TLP Group LLC lifted its stake in shares of Hawaiian Electric Industries by 818.4% in the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 4,804 shares during the last quarter. Finally, CKW Financial Group lifted its stake in shares of Hawaiian Electric Industries by 41.5% in the 2nd quarter. CKW Financial Group now owns 6,136 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 1,801 shares during the last quarter. Institutional investors own 48.17% of the company’s stock.
Hawaiian Electric Industries (HE) opened at $36.46 on Friday. The company has a market cap of $3,966.34, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 5.26 and a beta of 0.49. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.78.
Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.67%. The firm had revenue of $673.19 million during the quarter, compared to the consensus estimate of $648.93 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. equities analysts expect that Hawaiian Electric Industries will post 1.63 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 22nd will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Tuesday, November 21st. Hawaiian Electric Industries’s payout ratio is 76.07%.
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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).
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