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Reasons to Add Hawaiian Electric (HE) to Your Portfolio Now
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Hawaiian Electric Industries Inc. (HE - Free Report) , along with its subsidiaries, is engaged in electric utility, banking and renewable/sustainable infrastructure investment businesses.
The Zacks Consensus Estimate for 2021 and 2022 earnings per share is pegged at $1.97 and $2.09, respectively. Estimates for 2021 and 2022 have increased 8.8% and 6.09%, respectively, in the past 30 days.
Return on equity (ROE)
ROE indicates how efficiently a company is utilizing shareholders’ funds to generate returns. At present, Hawaiian Electric’s ROE for 12 months is 9.63%, higher than the industry average of 9.41%. The company’s better ROE than the industry indicates that it is using funds more efficiently than peers in the same space.
Dividend Yield and Long-Term EPS Growth
Currently, the company has a dividend yield of 3.1%, higher than the Zacks S&P 500 Composite’s 1.3%.
The long-term earnings per share (three to five years) growth of the company is currently pegged at 7.1%.
Systematic Investments
Hawaiian Electric continues making systematic investments to provide reliable services to customers. The company intends to invest $1,085-$1,255 million between 2021 and 2023 to add new generation facilities and restore transmission & distribution asset.
The company is integrating estimated total of 165,000 private solar systems by 2030 to provide customers with clean energy.
Price Performance
In the past six months, the stock has gained 18.4% compared with the industry’s growth of 3.9%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked stocks in the same sector include MYR Group, Inc. (MYRG - Free Report) , NewJersey Resources Corporation (NJR - Free Report) and UGI Corporation (UGI - Free Report) . MYR Group currently sports a Zacks Rank#1 while NewJersey Resources and UGI carry a Zacks Rank#2.
NewJersey Resources and UGI pay regular dividends, ensuring a steady income for investors. The current dividend yield of NewJersey Resources and UGI is 3.05% & 2.8%, respectively. The return on equity of MYR Group is 16.41%, better than its sector’s average of 9.51%.
The Zacks Consensus Estimate for 2021 earnings for MYR Group has moved up 9.2% in the past 60 days. In the same time frame, fiscal 2021 earnings estimate for NewJersey Resources and UGI have moved up 19.6% and 3.5%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
Image: Bigstock
Reasons to Add Hawaiian Electric (HE) to Your Portfolio Now
Hawaiian Electric Industries Inc. (HE - Free Report) , along with its subsidiaries, is engaged in electric utility, banking and renewable/sustainable infrastructure investment businesses.
Let’s focus on the factors that make this Zacks Rank #2 (Buy) stock a strong investment pick at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Growth Projections
The Zacks Consensus Estimate for 2021 and 2022 earnings per share is pegged at $1.97 and $2.09, respectively. Estimates for 2021 and 2022 have increased 8.8% and 6.09%, respectively, in the past 30 days.
Return on equity (ROE)
ROE indicates how efficiently a company is utilizing shareholders’ funds to generate returns. At present, Hawaiian Electric’s ROE for 12 months is 9.63%, higher than the industry average of 9.41%. The company’s better ROE than the industry indicates that it is using funds more efficiently than peers in the same space.
Dividend Yield and Long-Term EPS Growth
Currently, the company has a dividend yield of 3.1%, higher than the Zacks S&P 500 Composite’s 1.3%.
The long-term earnings per share (three to five years) growth of the company is currently pegged at 7.1%.
Systematic Investments
Hawaiian Electric continues making systematic investments to provide reliable services to customers. The company intends to invest $1,085-$1,255 million between 2021 and 2023 to add new generation facilities and restore transmission & distribution asset.
The company is integrating estimated total of 165,000 private solar systems by 2030 to provide customers with clean energy.
Price Performance
In the past six months, the stock has gained 18.4% compared with the industry’s growth of 3.9%.
Image Source: Zacks Investment Research
Other Stocks to Consider
Other top-ranked stocks in the same sector include MYR Group, Inc. (MYRG - Free Report) , NewJersey Resources Corporation (NJR - Free Report) and UGI Corporation (UGI - Free Report) . MYR Group currently sports a Zacks Rank#1 while NewJersey Resources and UGI carry a Zacks Rank#2.
NewJersey Resources and UGI pay regular dividends, ensuring a steady income for investors. The current dividend yield of NewJersey Resources and UGI is 3.05% & 2.8%, respectively. The return on equity of MYR Group is 16.41%, better than its sector’s average of 9.51%.
The Zacks Consensus Estimate for 2021 earnings for MYR Group has moved up 9.2% in the past 60 days. In the same time frame, fiscal 2021 earnings estimate for NewJersey Resources and UGI have moved up 19.6% and 3.5%, respectively.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>