Hawaiian Electric Industries (NYSE:HE) Issues FY 2022 Earnings Guidance

Hawaiian Electric Industries (NYSE:HEGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $2.00-$2.20 for the period, compared to the consensus EPS estimate of $2.12. The company issued revenue guidance of -.

Several brokerages have weighed in on HE. Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a hold rating to a sell rating and set a $45.00 price target on the stock. in a report on Tuesday, March 8th. StockNews.com raised shares of Hawaiian Electric Industries from a hold rating to a buy rating in a report on Thursday, May 19th.

Hawaiian Electric Industries stock opened at $43.71 on Monday. The stock has a market cap of $4.78 billion, a P/E ratio of 19.09, a PEG ratio of 6.28 and a beta of 0.28. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.08 and a quick ratio of 0.08. Hawaiian Electric Industries has a 1 year low of $37.94 and a 1 year high of $45.53. The firm’s 50 day moving average price is $42.48 and its 200-day moving average price is $41.58.

Hawaiian Electric Industries (NYSE:HEGet Rating) last released its quarterly earnings data on Monday, May 9th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.21. The firm had revenue of $785.07 million for the quarter. Hawaiian Electric Industries had a net margin of 8.45% and a return on equity of 10.71%. During the same quarter in the previous year, the business earned $0.59 EPS. As a group, equities analysts expect that Hawaiian Electric Industries will post 2.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 10th. Stockholders of record on Friday, May 20th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Thursday, May 19th. Hawaiian Electric Industries’s payout ratio is currently 61.14%.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bridgewater Associates LP boosted its stake in Hawaiian Electric Industries by 123.6% during the first quarter. Bridgewater Associates LP now owns 13,440 shares of the utilities provider’s stock worth $569,000 after buying an additional 7,430 shares during the period. Guggenheim Capital LLC purchased a new position in Hawaiian Electric Industries during the fourth quarter worth $531,000. Cetera Investment Advisers boosted its stake in Hawaiian Electric Industries by 8.7% during the fourth quarter. Cetera Investment Advisers now owns 11,913 shares of the utilities provider’s stock worth $494,000 after buying an additional 952 shares during the period. Natixis Advisors L.P. purchased a new position in Hawaiian Electric Industries during the first quarter worth $465,000. Finally, Toroso Investments LLC purchased a new position in Hawaiian Electric Industries during the first quarter worth $378,000. Institutional investors own 52.08% of the company’s stock.

Hawaiian Electric Industries Company Profile (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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