Mackenzie Financial Corp boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 85.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 75,485 shares of the utilities provider’s stock after buying an additional 34,785 shares during the quarter. Mackenzie Financial Corp owned approximately 0.07% of Hawaiian Electric Industries worth $2,729,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of HE. First Dallas Securities Inc. purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth $152,000. Marshwinds Advisory Co. purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth $202,000. Pennsylvania Trust Co purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hawaiian Electric Industries by 53.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,907 shares of the utilities provider’s stock worth $214,000 after purchasing an additional 2,048 shares during the period. Finally, Vident Investment Advisory LLC purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth $218,000. 49.05% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Jeffrey N. Watanabe sold 9,300 shares of the stock in a transaction on Monday, March 5th. The stock was sold at an average price of $33.18, for a total value of $308,574.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on HE shares. JPMorgan Chase & Co. reduced their price target on Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Finally, UBS began coverage on Hawaiian Electric Industries in a research report on Friday, February 2nd. They issued a “sell” rating and a $29.00 target price on the stock. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $31.00.
Shares of Hawaiian Electric Industries, Inc. (HE) traded up $0.36 on Friday, hitting $34.13. The company had a trading volume of 699,716 shares, compared to its average volume of 526,271. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.80. The stock has a market cap of $3,662.51, a price-to-earnings ratio of 22.45, a P/E/G ratio of 2.66 and a beta of 0.39. Hawaiian Electric Industries, Inc. has a twelve month low of $31.71 and a twelve month high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.02. Hawaiian Electric Industries had a return on equity of 8.69% and a net margin of 6.54%. The firm had revenue of $658.60 million during the quarter, compared to the consensus estimate of $547.89 million. During the same period in the prior year, the firm earned $0.41 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.88 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Thursday, February 22nd were issued a $0.31 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $1.24 annualized dividend and a yield of 3.63%. Hawaiian Electric Industries’s dividend payout ratio is currently 81.58%.
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Hawaiian Electric Industries Company Profile
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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