Wells Fargo & Company MN cut its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,132,899 shares of the utilities provider’s stock after selling 61,357 shares during the quarter. Wells Fargo & Company MN owned about 2.88% of Hawaiian Electric Industries worth $111,500,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of HE. Deprince Race & Zollo Inc. purchased a new stake in shares of Hawaiian Electric Industries in the third quarter valued at about $18,442,000. Russell Investments Group Ltd. lifted its stake in shares of Hawaiian Electric Industries by 109.7% during the third quarter. Russell Investments Group Ltd. now owns 669,539 shares of the utilities provider’s stock valued at $23,750,000 after buying an additional 350,210 shares during the period. WINTON GROUP Ltd lifted its stake in shares of Hawaiian Electric Industries by 4,573.5% during the second quarter. WINTON GROUP Ltd now owns 342,192 shares of the utilities provider’s stock valued at $11,737,000 after buying an additional 334,870 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Hawaiian Electric Industries by 53.8% during the second quarter. Acadian Asset Management LLC now owns 866,108 shares of the utilities provider’s stock valued at $29,707,000 after buying an additional 303,136 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Hawaiian Electric Industries during the third quarter valued at approximately $9,965,000. Institutional investors own 51.42% of the company’s stock.
HE traded up $0.22 during trading hours on Wednesday, reaching $38.70. 538,011 shares of the stock traded hands, compared to its average volume of 501,261. The firm has a market cap of $4.17 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 3.17 and a beta of 0.19. Hawaiian Electric Industries, Inc. has a fifty-two week low of $31.72 and a fifty-two week high of $39.11. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.84.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Wednesday, November 7th. The utilities provider reported $0.60 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.02). The firm had revenue of $768.05 million for the quarter, compared to analyst estimates of $709.02 million. Hawaiian Electric Industries had a net margin of 6.76% and a return on equity of 9.52%. Hawaiian Electric Industries’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.55 earnings per share. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.85 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 11th. Shareholders of record on Wednesday, November 21st will be paid a dividend of $0.31 per share. The ex-dividend date is Tuesday, November 20th. This represents a $1.24 dividend on an annualized basis and a yield of 3.20%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 75.15%.
HE has been the topic of several recent analyst reports. Wells Fargo & Co upped their price objective on shares of Hawaiian Electric Industries from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. Finally, Bank of America downgraded shares of Hawaiian Electric Industries from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $35.00 to $34.00 in a research note on Thursday, November 15th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company presently has an average rating of “Sell” and an average price target of $34.00.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, sugarcane waste, municipal waste, and other bio fuels.
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