In the market the company is trading up by 0.79%% since yesterday’s close of 35.45. Company shares are trading at $35.73 a bit higher than the 50 day moving average of $34.01 and which is just a bit higher than the 200 day moving average of $33.31. The 50 day moving average was up $1.72 and the 200 day average went up by +7.28%.
Investors are a little more bullish on the company if you take into consideration the decrease in short interest. The company experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -2.41%. Short interest decreased from 3,236,350 to 3,158,482 over that timeframe. Days to cover increased from 7.0 to 9.0 and the percentage of shorted shares was 0.03% on September 29.
Hawaiian Electric Industries, Inc. (HEI), launched on July 20, 1981, is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Business’s subsidiaries include Hawaiian Electric Company, Inc. (Hawaiian Electric) and ASB Hawaii, Inc. (ASB Hawaii). The Business’s segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric and its subsidiaries, Hawaii Electric Light Company, Inc. (Hawaii Electric Light) and Maui Electric Company, Limited (Maui Electric). The Company operates its Bank segment through ASB Hawaii’s subsidiary, American Savings Bank, F.S.B. (ASB)..
The following firms have recently changed their position in HE. As of the end of the quarter Mutual Of America Capital Management LLC had sold a total of 671 shares trimming its holdings by 0.8%. The value of the total investment in Hawaiian Electric Industries, I increased from $2,840,000 to $2,905,000 a change of 2.3% since the last quarter. As of quarter end Farmers & Merchants Investments Inc had disposed of 3,933 shares trimming its stake by 15.1%. The value of the company’s investment in Hawaiian Electric Industries, I went from $842,000 to $736,000 decreasing 12.6% quarter to quarter.
As of quarter end State Treasurer State Of Michigan had sold 678,531 shares trimming its position 94.3%. The value of the investment in (HE) went from $23,296,000 to $1,366,000 a change of $21,930,000 for the reporting period. As of quarter end Wealthtrust-arizona, LLC had acquired a total of 1 shares growing its position 1.0%. The value in dollars decreased from $3,000 to $3,000 decreasing 0.0% quarter over quarter.
October 12 investment analysts at JP Morgan held the stock rating at “Neutral” but raised the price expectation from $26.00 to $34.00.
Hawaiian Electric Industries, I recently declared a dividend paid on Tuesday September 12th, 2017. The dividend payment was $0.310 per share for the quarter which is $1.24 annualized. This dividend amount was represent a yield of $3.50. The ex-dividend date was Monday the 21st of August 2017.
The company currently has a P/E ratio of 15.91 and the market value is 3.89B. In the last earnings report the EPS was $2.25 and is estimated to be $1.63 for the current year with 108,785,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.41 with next year’s EPS anticipated to be $1.79.