IFM Investors Pty Ltd lessened its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,924 shares of the utilities provider's stock after selling 1,065 shares during the quarter. IFM Investors Pty Ltd's holdings in Hawaiian Electric Industries were worth $529,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Hawaiian Electric Industries during the first quarter worth approximately $29,000. ACG Wealth acquired a new position in shares of Hawaiian Electric Industries in the second quarter valued at approximately $33,000. Bank of New Hampshire acquired a new position in shares of Hawaiian Electric Industries in the first quarter valued at approximately $36,000. Point72 Hong Kong Ltd grew its position in shares of Hawaiian Electric Industries by 121.0% in the fourth quarter. Point72 Hong Kong Ltd now owns 2,990 shares of the utilities provider's stock valued at $124,000 after purchasing an additional 1,637 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of Hawaiian Electric Industries by 326.0% in the first quarter. Covestor Ltd now owns 2,969 shares of the utilities provider's stock valued at $126,000 after purchasing an additional 2,272 shares during the last quarter. Institutional investors and hedge funds own 53.30% of the company's stock.
Get Hawaiian Electric Industries alerts:Hawaiian Electric Industries Trading Down 2.8 %
Shares of NYSE:HE opened at $35.85 on Wednesday. The company has a market capitalization of $3.92 billion, a P/E ratio of 16.32, a P/E/G ratio of 6.85 and a beta of 0.32. Hawaiian Electric Industries, Inc. has a 1 year low of $35.71 and a 1 year high of $44.72. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.07 and a quick ratio of 0.07. The business's 50 day simple moving average is $40.58 and its 200 day simple moving average is $41.36.
Hawaiian Electric Industries (NYSE:HE – Get Rating) last issued its quarterly earnings results 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 last year, the company posted $0.58 EPS. On average, research analysts anticipate that Hawaiian Electric Industries, Inc. will post 2.13 EPS for the current fiscal year.Hawaiian Electric Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Thursday, August 18th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, August 17th. Hawaiian Electric Industries's payout ratio is presently 63.93%.
Analyst Ratings Changes
HE has been the topic of several research reports. Bank of America downgraded Hawaiian Electric Industries from a "neutral" rating to an "underperform" rating and set a $43.00 target price on the stock. in a research report on Thursday, August 18th. Evercore ISI decreased their target price on Hawaiian Electric Industries to $40.00 in a research report on Monday, August 15th. Finally, StockNews.com downgraded Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, August 9th.
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.
Further Reading
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