AdvisorNet Financial Inc decreased its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 12.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,084 shares of the utilities provider's stock after selling 600 shares during the quarter. AdvisorNet Financial Inc's holdings in Hawaiian Electric Industries were worth $167,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in HE. Covestor Ltd purchased a new position in shares of Hawaiian Electric Industries during the fourth quarter worth about $29,000. Meeder Asset Management Inc. acquired a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $29,000. Bank of New Hampshire acquired a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $36,000. Point72 Hong Kong Ltd boosted its stake in shares of Hawaiian Electric Industries by 121.0% during the fourth quarter. Point72 Hong Kong Ltd now owns 2,990 shares of the utilities provider's stock worth $124,000 after buying an additional 1,637 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth about $202,000. Hedge funds and other institutional investors own 53.30% of the company's stock.
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Shares of NYSE:HE opened at $38.44 on Wednesday. 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 company has a market cap of $4.21 billion, a P/E ratio of 17.55, a PEG ratio of 6.99 and a beta of 0.32. Hawaiian Electric Industries, Inc. has a 52 week low of $37.87 and a 52 week high of $44.72. The company has a 50-day moving average price of $40.77 and a 200 day moving average price of $41.49.
Hawaiian Electric Industries (NYSE:HE – Get Rating) last announced its quarterly earnings data on Monday, August 8th. The utilities provider reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.04). Hawaiian Electric Industries had a net margin of 7.53% and a return on equity of 10.38%. During the same quarter last year, the company posted $0.58 earnings per share. Research analysts predict that Hawaiian Electric Industries, Inc. will post 2.13 earnings per share for the current year.Hawaiian Electric Industries Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Thursday, August 18th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.64%. Hawaiian Electric Industries's payout ratio is 63.93%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on HE. Bank of America downgraded shares of Hawaiian Electric Industries from a "neutral" rating to an "underperform" rating and set a $43.00 target price for the company. in a research note on Thursday, August 18th. StockNews.com downgraded shares of Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a research note on Tuesday, August 9th. Finally, Evercore ISI decreased their target price on shares of Hawaiian Electric Industries to $40.00 in a research note on Monday, August 15th.
Hawaiian Electric Industries Profile
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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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