Hawaiian Electric Industries, Inc. (NYSE: HE) stock fell -2.95% on Monday to $13.50 against a previous-day closing price of $13.91. With 2.44 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.71 million shares. During the session, the Utilities – Regulated Electric company that operates in wider Utilities sector, reached to the highest price of $13.79 whereas the lowest price it dropped to was $13.37. The 52-week range on HE shows that it touched its highest point at $43.71 and its lowest point at $9.06 during that stretch. It currently has a 1-year price target of $7.50. With its current market cap of 1.49 billion, HE has annualized dividend of $1.26 while the current yield stands at 9.33%. Beta for the stock currently stands at 0.58.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of HE was up-trending over the past week, with a rise of 17.90%, but this was up by 9.31% over a month. Three-month performance surged to 0.97% while six-month performance fell -62.80%. The stock lost -65.27% in the past year, while it has lost -67.74% so far this year. A look at the trailing 12-month EPS for HE yields 1.89 with Next year EPS estimates of 2.08. For the next quarter, that number is 0.46. This implies an EPS growth rate of -8.03% for this year and 2.64% for next year. EPS is expected to grow by 4.20% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 7.68%.
Float and Shares Shorts:
At present, 110.12 million HE shares are outstanding with a float of 109.78 million shares on hand for trading. On Oct 30, 2023, short shares totaled 15.92 million, which was 14.52% higher than short shares on Sep 28, 2023. In addition to Mr. Scott W. H. Seu as the firm’s President, CEO & Director, Mr. Kurt K. Murao serves as its Executive VP, General Counsel, Chief Administrative Officer & Corporate Secretary.
Institutional Ownership:
Through their ownership of 58.28% of HE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 4.71% of HE, in contrast to 30.89% held by mutual funds. Shares owned by individuals account for 28.57%. As the largest shareholder in HE with 9.79% of the stake, The Vanguard Group, Inc. holds 10,734,464 shares worth 10,734,464. A second-largest stockholder of HE, AQR Capital Management LLC, holds 6,120,053 shares, controlling over 5.58% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in HE, holding 5,342,493 shares or 4.87% stake. With a 3.12% stake in HE, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 3,421,552 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.58% of HE stock, is the second-largest Mutual Fund holder. It holds 2,828,682 shares valued at 36.72 million. Vanguard Small Cap Value Index Fu holds 1.80% of the stake in HE, owning 1,969,963 shares worth 25.57 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for HE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With HE analysts setting a high price target of $8.50 and a low target of $7.00, the average target price over the next 12 months is $7.50. Based on these targets, HE could drop -37.04% to reach the target high and fall by -48.15% to reach the target low. Reaching the average price target will result in a decline of -44.44% from current levels.
Summary of Insider Activity:
Insiders traded HE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 22 while that of sell transactions has risen to 8 over the past year. The total number of shares bought during that period was 102,923 while 28,583 shares were sold.
