The stock last traded at $35.73 which is slightly above the 50 day moving average which is $34.01 and which is a tad above the 200 day moving average of $33.31. The 50 day moving average went up $1.72 or +5.05% and the 200 day average went up $2.42 or +7.28%. Hawaiian Electric Industries, I shares had a trading volume of 273K on Tuesday. Overall, volume was down 24.31% under the stocks normal daily volume.
Investors are feeling more bullish on shares of Hawaiian Electric Industries, I lately as evidenced by the motion in short interest. The firm realized a fall in short interest from September 15, 2017 to September 29, 2017 of -2.41%. Short shares decreased 77,868 over that timeframe. With short interest at 3,158,482 and short average daily volume at 338,375, the short-interest ratio is 9.0 and the percentage of shorted shares was 0.03% on September 29.
Here are a few substantial investment firms who have updated their positions. As of quarter end Mutual Of America Capital Management LLC had sold 671 shares trimming its holdings by 0.8%. The value of the investment in HE increased from $2,840,000 to $2,905,000 a change of 2.3% since the last quarter. Farmers & Merchants Investments Inc reduced its position by shedding 3,933 shares a decrease of 15.1% from 06/30/2017 to 09/30/2017. Farmers & Merchants Investments Inc currently owns 22,067 shares worth $736,000. The total value of its holdings decreased 12.6%.
State Treasurer State Of Michigan downsized its ownership by selling 678,531 shares a decrease of 94.3% in the quarter. State Treasurer State Of Michigan now holds 40,940 shares with a value of $1,366,000. The value of the position overall is down by 94.1%. As of the end of the quarter Wealthtrust-arizona, LLC had acquired a total of 1 shares growing its stake by 1.0%. The value of the company’s investment in Hawaiian Electric Industries, I went from $3,000 to $3,000 a change of $0 quarter to quarter.
On October 12 JP Morgan maintained a company rating of “Neutral” but moved up the price target from $26.00 to $34.00.
The company is trading up since yesterday’s close of 35.45. Hawaiian Electric Industries, I also announced a dividend that was paid on Tuesday September 12th, 2017. The dividend payment was $0.310 per share for the quarter or $1.24 annualized. This dividend amount represented a yield of $3.50. The ex-dividend date was set for Monday the 21st of August 2017.
Hawaiian Electric Industries, I’s P/E ratio is 15.91 and the market cap is 3.89B. As of 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 outstanding. Next quarter’s EPS is expected be $0.41 and the next full year EPS is anticipated to be $1.79.
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)..