Hawaiian Electric Industries, Inc. (NYSE:HE – Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors bought 17,530 call options on the company. This represents an increase of approximately 45% compared to the typical volume of 12,117 call options.
Hawaiian Electric Industries Stock Up 8.0 %
Shares of NYSE:HE traded up $1.12 during midday trading on Friday, hitting $15.14. 10,028,203 shares of the company’s stock traded hands, compared to its average volume of 2,508,792. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $1.66 billion, a PE ratio of 7.07, a P/E/G ratio of 1.94 and a beta of 0.41. The firm’s fifty day moving average price is $30.58 and its two-hundred day moving average price is $35.64. Hawaiian Electric Industries has a twelve month low of $9.06 and a twelve month high of $43.71.
Hawaiian Electric Industries (NYSE:HE – Get Free Report) last posted its earnings results on Monday, August 7th. The utilities provider reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). Hawaiian Electric Industries had a net margin of 5.94% and a return on equity of 10.42%. The business had revenue of $895.69 million for the quarter. On average, equities research analysts anticipate that Hawaiian Electric Industries will post 1.72 EPS for the current fiscal year.
Hawaiian Electric Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be issued a $0.36 dividend. The ex-dividend date is Thursday, August 17th. This represents a $1.44 dividend on an annualized basis and a yield of 9.51%. Hawaiian Electric Industries’s dividend payout ratio is currently 68.90%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a research report on Thursday, August 17th. They set a “hold” rating for the company. Bank of America reissued an “underperform” rating and set a $8.50 price objective on shares of Hawaiian Electric Industries in a research note on Friday, August 25th. Wells Fargo & Company raised shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $25.00 to $8.00 in a research note on Thursday, August 17th. Guggenheim dropped their price objective on shares of Hawaiian Electric Industries from $32.00 to $18.00 in a research note on Monday, August 14th. Finally, TheStreet cut shares of Hawaiian Electric Industries from a “b-” rating to a “c+” rating in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.63.
Check Out Our Latest Research Report on HE
Institutional Investors Weigh In On Hawaiian Electric Industries
A number of institutional investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans raised its stake in shares of Hawaiian Electric Industries by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,973 shares of the utilities provider’s stock valued at $1,004,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP grew its position in shares of Hawaiian Electric Industries by 6.8% during the 1st quarter. Allworth Financial LP now owns 4,361 shares of the utilities provider’s stock valued at $167,000 after buying an additional 277 shares during the last quarter. Treasurer of the State of North Carolina grew its position in shares of Hawaiian Electric Industries by 0.7% during the 1st quarter. Treasurer of the State of North Carolina now owns 47,557 shares of the utilities provider’s stock valued at $1,826,000 after buying an additional 340 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Hawaiian Electric Industries by 5.2% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,960 shares of the utilities provider’s stock valued at $267,000 after buying an additional 346 shares during the last quarter. Finally, Bank of Montreal Can grew its position in shares of Hawaiian Electric Industries by 3.0% during the 1st quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock valued at $584,000 after buying an additional 403 shares during the last quarter. Institutional investors and hedge…
Read More: Hawaiian Electric Industries Sees Unusually Large Options Volume (NYSE:HE)