Raymond James Financial Services Advisors Inc. grew its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 14.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,912 shares of the utilities provider’s stock after acquiring an additional 1,625 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Hawaiian Electric Industries were worth $467,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in HE. First Dallas Securities Inc. bought a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $152,000. Marshwinds Advisory Co. bought a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $202,000. Pennsylvania Trust Co bought a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 during the period. Finally, Vident Investment Advisory LLC bought a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $218,000. Institutional investors own 49.05% of the company’s stock.
In related news, Director Jeffrey N. Watanabe sold 9,300 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $33.18, for a total transaction of $308,574.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.90% of the company’s stock.
Several equities analysts recently commented on HE shares. JPMorgan Chase & Co. cut their target price on Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, January 8th. Finally, UBS started coverage on Hawaiian Electric Industries in a research report on Friday, February 2nd. They set a “sell” rating and a $29.00 target price for the company. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $31.00.
Hawaiian Electric Industries, Inc. (NYSE:HE) opened at $34.13 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $3,675.57, a P/E ratio of 22.45, a P/E/G ratio of 2.67 and a beta of 0.39. Hawaiian Electric Industries, Inc. has a 52-week low of $31.71 and a 52-week high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Wednesday, February 14th. The utilities provider reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. Hawaiian Electric Industries had a return on equity of 8.69% and a net margin of 6.54%. The business had revenue of $658.60 million during the quarter, compared to the consensus estimate of $547.89 million. During the same quarter last year, the company earned $0.41 EPS. Hawaiian Electric Industries’s revenue was up 6.7% on a year-over-year basis. analysts forecast that Hawaiian Electric Industries, Inc. will post 1.88 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Thursday, February 22nd were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.24 dividend on an annualized basis and a yield of 3.63%. Hawaiian Electric Industries’s dividend payout ratio is 81.58%.
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Hawaiian Electric Industries Profile
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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