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

Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) was the recipient of a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 1,670,000 shares, a growth of 18.4% from the December 15th total of 1,410,000 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 362,800 shares, the short-interest ratio is currently 4.6 days.

Wall Street Analysts Forecast Growth

Several analysts have commented on HE shares. Evercore ISI set a $36.00 target price on shares of Hawaiian Electric Industries in a research note on Thursday, November 24th. StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company lifted their price target on shares of Hawaiian Electric Industries from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Tuesday, January 10th. Finally, Guggenheim decreased their price target on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a report on Monday, October 24th.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Hawaiian Electric Industries by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 12,016,050 shares of the utilities provider’s stock valued at $416,476,000 after acquiring an additional 245,066 shares in the last quarter. Nordea Investment Management AB increased its stake in Hawaiian Electric Industries by 0.3% during the 3rd quarter. Nordea Investment Management AB now owns 4,185,221 shares of the utilities provider’s stock worth $148,533,000 after buying an additional 14,535 shares during the period. State Street Corp increased its stake in Hawaiian Electric Industries by 0.9% during the 3rd quarter. State Street Corp now owns 3,770,062 shares of the utilities provider’s stock worth $130,670,000 after buying an additional 31,995 shares during the period. First Trust Advisors LP increased its stake in Hawaiian Electric Industries by 2.7% during the 3rd quarter. First Trust Advisors LP now owns 1,979,395 shares of the utilities provider’s stock worth $68,606,000 after buying an additional 52,947 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Hawaiian Electric Industries by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,233,489 shares of the utilities provider’s stock worth $42,756,000 after buying an additional 35,637 shares during the period. Institutional investors and hedge funds own 52.99% of the company’s stock.

Hawaiian Electric Industries Stock Down 0.1 %

Shares of HE opened at $40.99 on Friday. The firm has a market cap of $4.49 billion, a PE ratio of 18.80, a price-to-earnings-growth ratio of 7.34 and a beta of 0.39. The company’s fifty day moving average is $41.07 and its two-hundred day moving average is $39.70. Hawaiian Electric Industries has a fifty-two week low of $33.18 and a fifty-two week high of $44.72. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.12.

Hawaiian Electric Industries (NYSE:HEGet Rating) last posted its earnings results on Monday, November 7th. The utilities provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $1.04 billion for the quarter. Hawaiian Electric Industries had a net margin of 6.88% and a return on equity of 10.57%. Analysts forecast that Hawaiian Electric Industries will post 2.13 earnings per share for the current year.

Hawaiian Electric Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 22nd were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, November 21st. This represents a $1.40 annualized dividend and a dividend yield of 3.42%. Hawaiian Electric Industries’s payout ratio is 64.22%.

About Hawaiian Electric Industries

(Get Rating)

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

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