Hawaiian Electric Industries (NYSE:HE) Posts Earnings Results, Misses Expectations By $0.05 EPS

Hawaiian Electric Industries (NYSE:HE) announced its quarterly earnings data on Friday. The utilities provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05), RTT News reports. Hawaiian Electric Industries had a return on equity of 9.75% and a net margin of 7.27%. The company had revenue of $715.49 million for the quarter, compared to analyst estimates of $592.84 million. During the same period last year, the firm earned $0.42 earnings per share.

HE stock traded down $0.25 during midday trading on Friday, hitting $44.36. 356,836 shares of the company’s stock were exchanged, compared to its average volume of 306,503. The stock’s fifty day moving average is $44.11. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.07 and a current ratio of 0.07. The company has a market cap of $4.88 billion, a P/E ratio of 23.98, a PEG ratio of 4.14 and a beta of 0.23. Hawaiian Electric Industries has a one year low of $34.16 and a one year high of $45.19.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, August 21st. This represents a $1.28 annualized dividend and a yield of 2.89%. Hawaiian Electric Industries’s dividend payout ratio is presently 69.19%.

Separately, Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research note on Wednesday, May 29th.

Several institutional investors have recently modified their holdings of HE. Norges Bank bought a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $24,278,000. BlackRock Inc. lifted its holdings in shares of Hawaiian Electric Industries by 3.1% in the first quarter. BlackRock Inc. now owns 10,144,712 shares of the utilities provider’s stock valued at $413,600,000 after purchasing an additional 305,064 shares in the last quarter. FMR LLC lifted its holdings in shares of Hawaiian Electric Industries by 96.6% in the first quarter. FMR LLC now owns 567,340 shares of the utilities provider’s stock valued at $23,131,000 after purchasing an additional 278,694 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Hawaiian Electric Industries by 26.4% in the second quarter. First Trust Advisors LP now owns 1,135,603 shares of the utilities provider’s stock valued at $49,456,000 after purchasing an additional 237,394 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Hawaiian Electric Industries by 14.8% during the first quarter. Nordea Investment Management AB now owns 902,607 shares of the utilities provider’s stock worth $36,800,000 after acquiring an additional 116,134 shares in the last quarter. Institutional investors own 53.03% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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Earnings History for Hawaiian Electric Industries (NYSE:HE)

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