State Treasurer State of Michigan cut its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,140 shares of the utilities provider’s stock after selling 1,800 shares during the quarter. State Treasurer State of Michigan’s holdings in Hawaiian Electric Industries were worth $1,415,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of HE. Cornerstone Capital Management Holdings LLC. bought a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $201,000. Marshwinds Advisory Co. bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $202,000. Pennsylvania Trust Co bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position 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 buying an additional 2,048 shares in the last quarter. Finally, Vident Investment Advisory LLC bought a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth about $218,000. Hedge funds and other institutional investors own 49.45% of the company’s stock.
Shares of Hawaiian Electric Industries, Inc. (HE) opened at $33.77 on Friday. Hawaiian Electric Industries, Inc. has a 52-week low of $31.71 and a 52-week high of $38.72. The company has a market cap of $3,670.00, a PE ratio of 20.72, a price-to-earnings-growth ratio of 3.50 and a beta of 0.37. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.83 and a current ratio of 0.83.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. The company had revenue of $658.60 million for the quarter, compared to the consensus estimate of $547.89 million. During the same period in the previous year, the firm earned $0.41 EPS. Hawaiian Electric Industries’s revenue was up 6.7% on a year-over-year basis. sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Thursday, February 22nd will be issued a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.67%. Hawaiian Electric Industries’s payout ratio is currently 76.07%.
A number of analysts have commented on HE shares. Bank of America started coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, October 24th. They set an “underperform” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Finally, UBS Group started coverage on shares of Hawaiian Electric Industries in a research report on Friday, February 2nd. They set a “sell” rating and a $29.00 price target on the stock. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Hawaiian Electric Industries has a consensus rating of “Sell” and a consensus target price of $31.00.
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About Hawaiian Electric Industries
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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