Banque Pictet & Cie SA decreased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 29.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the utilities provider’s stock after selling 25,000 shares during the quarter. Banque Pictet & Cie SA owned 0.06% of Hawaiian Electric Industries worth $2,002,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Great West Life Assurance Co. Can boosted its stake in Hawaiian Electric Industries by 12.9% in the second quarter. Great West Life Assurance Co. Can now owns 72,717 shares of the utilities provider’s stock worth $2,353,000 after buying an additional 8,324 shares in the last quarter. Stifel Financial Corp boosted its stake in Hawaiian Electric Industries by 35.1% in the second quarter. Stifel Financial Corp now owns 21,906 shares of the utilities provider’s stock worth $705,000 after buying an additional 5,688 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Hawaiian Electric Industries in the second quarter worth approximately $1,031,000. Legal & General Group Plc boosted its stake in Hawaiian Electric Industries by 12.1% in the second quarter. Legal & General Group Plc now owns 200,558 shares of the utilities provider’s stock worth $6,495,000 after buying an additional 21,628 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Hawaiian Electric Industries by 4.3% in the second quarter. Wells Fargo & Company MN now owns 2,743,198 shares of the utilities provider’s stock worth $88,823,000 after buying an additional 113,307 shares in the last quarter. 47.87% of the stock is owned by institutional investors.
In related news, Director Thomas B. Fargo sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by corporate insiders.
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Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) traded up $0.20 during trading on Friday, hitting $37.05. The company had a trading volume of 555,381 shares, compared to its average volume of 469,555. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $4,030.52, a P/E ratio of 22.73, a PEG ratio of 5.35 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a one year low of $29.43 and a one year high of $37.74.
Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $673.19 million for the quarter, compared to the consensus estimate of $648.93 million. Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. Hawaiian Electric Industries’s revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 EPS. equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.35%. Hawaiian Electric Industries’s dividend payout ratio is presently 76.07%.
Several analysts have weighed in on HE shares. Bank of America Corporation started coverage on Hawaiian Electric Industries in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price objective for the company. BidaskClub upgraded Hawaiian Electric Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 19th. Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, J P Morgan Chase & Co boosted their price objective on Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company. Hawaiian Electric Industries presently has an average rating of “Sell” and a consensus price target of $32.33.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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