Nationwide Fund Advisors increased its stake in Hawaiian Electric Industries Inc. (NYSE:HE) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 182,671 shares of the company’s stock after buying an additional 5,373 shares during the period. Nationwide Fund Advisors owned about 0.17% of Hawaiian Electric Industries worth $5,990,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Hawaiian Electric Industries by 1.6% in the first quarter. BlackRock Fund Advisors now owns 3,705,924 shares of the company’s stock valued at $120,072,000 after buying an additional 59,133 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Hawaiian Electric Industries by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,085,611 shares of the company’s stock valued at $99,974,000 after buying an additional 28,984 shares during the period. State Street Corp increased its position in Hawaiian Electric Industries by 2.4% in the first quarter. State Street Corp now owns 2,957,079 shares of the company’s stock valued at $95,802,000 after buying an additional 68,682 shares during the period. JPMorgan Chase & Co. increased its position in Hawaiian Electric Industries by 102.5% in the first quarter. JPMorgan Chase & Co. now owns 1,236,476 shares of the company’s stock valued at $40,062,000 after buying an additional 625,788 shares during the period. Finally, Renaissance Technologies LLC increased its position in Hawaiian Electric Industries by 2.2% in the first quarter. Renaissance Technologies LLC now owns 871,400 shares of the company’s stock valued at $28,233,000 after buying an additional 18,800 shares during the period. 43.80% of the stock is currently owned by hedge funds and other institutional investors.
Hawaiian Electric Industries Inc. (NYSE:HE) traded down 0.20% during midday trading on Wednesday, reaching $30.63. 140,017 shares of the company were exchanged. The stock has a market capitalization of $3.31 billion, a P/E ratio of 19.45 and a beta of 0.23. The firm’s 50 day moving average price is $30.27 and its 200-day moving average price is $31.89. Hawaiian Electric Industries Inc. has a 52 week low of $27.30 and a 52 week high of $34.98.
Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $566.24 million for the quarter, compared to analysts’ expectations of $622.85 million. Hawaiian Electric Industries had a net margin of 6.97% and a return on equity of 9.26%. The business’s revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the company earned $0.39 EPS. Equities analysts forecast that Hawaiian Electric Industries Inc. will post $1.67 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 24th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, August 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.04%. Hawaiian Electric Industries’s payout ratio is 78.98%.
Separately, Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, August 8th.
In other news, Director Thomas B. Fargo sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $30.60, for a total transaction of $214,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Barry K. Taniguchi sold 14,942 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $30.29, for a total transaction of $452,593.18. The disclosure for this sale can be found here. Insiders own 0.86% of the company’s stock.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc (HEI) 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 segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).
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