Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 4.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364,988 shares of the utilities provider's stock after selling 16,756 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.33% of Hawaiian Electric Industries worth $15,443,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in shares of Hawaiian Electric Industries by 7.2% in the 4th quarter. HighTower Advisors LLC now owns 17,949 shares of the utilities provider's stock valued at $747,000 after purchasing an additional 1,210 shares during the period. Swiss National Bank grew its position in shares of Hawaiian Electric Industries by 7.5% in the 1st quarter. Swiss National Bank now owns 258,400 shares of the utilities provider's stock valued at $10,933,000 after purchasing an additional 18,000 shares during the period. Versor Investments LP grew its position in shares of Hawaiian Electric Industries by 32.8% in the 1st quarter. Versor Investments LP now owns 19,954 shares of the utilities provider's stock valued at $844,000 after purchasing an additional 4,923 shares during the period. InterOcean Capital Group LLC acquired a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at approximately $262,000. Finally, Corton Capital Inc. acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at approximately $418,000. 53.30% of the stock is currently owned by institutional investors and hedge funds.
Get Hawaiian Electric Industries alerts:Hawaiian Electric Industries Trading Up 0.5 %
Shares of Hawaiian Electric Industries stock opened at $38.26 on Monday. Hawaiian Electric Industries, Inc. has a 12-month low of $37.87 and a 12-month high of $44.72. The stock has a market cap of $4.19 billion, a P/E ratio of 17.47, a P/E/G ratio of 6.99 and a beta of 0.32. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 1.06. The business's 50 day moving average is $40.83 and its 200-day moving average is $41.54.
Hawaiian Electric Industries (NYSE:HE – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.04). Hawaiian Electric Industries had a return on equity of 10.38% and a net margin of 7.53%. During the same period in the prior year, the firm posted $0.58 EPS. Equities research analysts predict that Hawaiian Electric Industries, Inc. will post 2.13 earnings per share for the current fiscal year.Hawaiian Electric Industries Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 18th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Wednesday, August 17th. Hawaiian Electric Industries's dividend payout ratio (DPR) is currently 63.93%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on HE. Evercore ISI decreased their price objective on Hawaiian Electric Industries to $40.00 in a research report on Monday, August 15th. StockNews.com cut Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, August 9th. Finally, Bank of America cut Hawaiian Electric Industries from a "neutral" rating to an "underperform" rating and set a $43.00 target price on the stock. in a research note on Thursday, August 18th.
About Hawaiian Electric Industries
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Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.
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