Hawaiian Electric Industries, Inc. (NYSE:HE) Short Interest Update

Posted by on Jun 17th, 2022

Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) saw a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,450,000 shares, an increase of 26.1% from the May 15th total of 1,150,000 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily trading volume, of 392,000 shares, the days-to-cover ratio is presently 3.7 days.

HE opened at $38.50 on Friday. Hawaiian Electric Industries has a fifty-two week low of $37.94 and a fifty-two week high of $45.53. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 16.76, a PEG ratio of 6.11 and a beta of 0.27. The company’s 50 day moving average price is $42.52 and its two-hundred day moving average price is $41.78.

Hawaiian Electric Industries (NYSE:HE – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The utilities provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.21. Hawaiian Electric Industries had a net margin of 8.45% and a return on equity of 10.71%. The company had revenue of $785.07 million for the quarter. During the same period in the prior year, the company posted $0.59 earnings per share. As a group, equities research analysts predict that Hawaiian Electric Industries will post 2.19 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 20th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, May 19th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.64%. Hawaiian Electric Industries’s payout ratio is presently 61.14%.

Separately, StockNews.com upgraded shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research report on Thursday, May 19th.

In other Hawaiian Electric Industries news, CFO Gregory C. Hazelton sold 22,000 shares of Hawaiian Electric Industries stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $42.25, for a total value of $929,500.00. Following the completion of the sale, the chief financial officer now owns 14,576 shares in the company, valued at approximately $615,836. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.86% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at $29,000. Meeder Asset Management Inc. acquired a new position in Hawaiian Electric Industries during the first quarter worth $29,000. Masso Torrence Wealth Management Inc. acquired a new position in Hawaiian Electric Industries during the fourth quarter worth $35,000. Bank of New Hampshire acquired a new position in Hawaiian Electric Industries during the first quarter worth $36,000. Finally, Trust Co. of Vermont acquired a new position in Hawaiian Electric Industries during the fourth quarter worth $64,000. Institutional investors own 52.08% of the company’s stock.

About Hawaiian Electric Industries (Get Rating)

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.

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