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

Hawaiian Electric Industries (NYSE:HEGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.00-$2.20 for the period, compared to the consensus earnings per share estimate of $2.14. The company issued revenue guidance of -.

Hawaiian Electric Industries Trading Up 0.2 %

NYSE:HE traded up $0.07 on Tuesday, hitting $42.33. The stock had a trading volume of 401,749 shares, compared to its average volume of 392,639. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.01. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 6.11 and a beta of 0.30. The company has a fifty day moving average price of $40.96 and a two-hundred day moving average price of $41.67. Hawaiian Electric Industries has a 1-year low of $37.94 and a 1-year high of $45.53.

Hawaiian Electric Industries (NYSE:HEGet Rating) last released its quarterly earnings results on Monday, August 8th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.04). 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 company earned $0.58 earnings per share. Equities research analysts expect that Hawaiian Electric Industries will post 2.19 earnings per share for the current fiscal year.

Hawaiian Electric Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Thursday, August 18th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Wednesday, August 17th. Hawaiian Electric Industries’s payout ratio is currently 61.14%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Hawaiian Electric Industries from a buy rating to a hold rating in a research report on Tuesday.

Insiders Place Their Bets

In other Hawaiian Electric Industries news, CFO Gregory C. Hazelton sold 22,000 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $42.25, for a total transaction of $929,500.00. Following the completion of the transaction, the chief financial officer now owns 14,576 shares in the company, valued at approximately $615,836. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by insiders.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its holdings in 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 acquiring an additional 403 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Hawaiian Electric Industries by 18.2% during the 1st quarter. Captrust Financial Advisors now owns 5,011 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 771 shares during the last quarter. Raymond James & Associates boosted its stake in shares of Hawaiian Electric Industries by 7.5% during the 1st quarter. Raymond James & Associates now owns 15,301 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 1,065 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Hawaiian Electric Industries by 7.4% during the 1st quarter. Advisors Asset Management Inc. now owns 18,070 shares of the utilities provider’s stock worth $765,000 after purchasing an additional 1,243 shares during the last quarter. Finally, Covestor Ltd boosted its stake in shares of Hawaiian Electric Industries by 326.0% during the 1st quarter. Covestor Ltd now owns 2,969 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 2,272 shares during the last quarter. 52.08% of the stock is currently owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

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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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