Hawaiian Electric Industries, Inc. (NYSE:HE) Plans Quarterly Dividend of $0.33

Hawaiian Electric Industries, Inc. (NYSE:HE) declared a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Shareholders of record on Wednesday, February 26th will be given a dividend of 0.33 per share by the utilities provider on Tuesday, March 10th. This represents a $1.32 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, February 25th. This is an increase from Hawaiian Electric Industries’s previous quarterly dividend of $0.32.

Hawaiian Electric Industries has raised its dividend payment by an average of 1.1% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Hawaiian Electric Industries has a payout ratio of 64.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hawaiian Electric Industries to earn $1.92 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 66.7%.

NYSE:HE traded up $0.66 during trading hours on Friday, reaching $50.40. 445,688 shares of the stock were exchanged, compared to its average volume of 381,996. Hawaiian Electric Industries has a twelve month low of $37.35 and a twelve month high of $50.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a 50 day moving average of $47.42 and a 200 day moving average of $45.33. The stock has a market cap of $5.30 billion, a PE ratio of 27.39, a PEG ratio of 6.04 and a beta of 0.25.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.51 by $0.10. The company had revenue of $725.97 million during the quarter, compared to the consensus estimate of $758.90 million. Hawaiian Electric Industries had a return on equity of 9.23% and a net margin of 6.98%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities research analysts anticipate that Hawaiian Electric Industries will post 1.95 earnings per share for the current year.

A number of research firms recently weighed in on HE. Wells Fargo & Co cut Hawaiian Electric Industries from an “equal weight” rating to an “underweight” rating and set a $43.00 price target on the stock. in a research note on Wednesday, January 8th. Guggenheim began coverage on Hawaiian Electric Industries in a research note on Tuesday, January 7th. They issued a “neutral” rating and a $44.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.80.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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Dividend History for Hawaiian Electric Industries (NYSE:HE)

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