AdvisorNet Financial Inc cut its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 12.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,084 shares of the utilities provider’s stock after selling 600 shares during the period. AdvisorNet Financial Inc’s holdings in Hawaiian Electric Industries were worth $167,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Hawaiian Electric Industries by 0.6% in the first quarter. Vanguard Group Inc. now owns 11,527,217 shares of the utilities provider’s stock valued at $487,716,000 after acquiring an additional 70,591 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Hawaiian Electric Industries by 11.0% in the first quarter. Nordea Investment Management AB now owns 4,166,696 shares of the utilities provider’s stock valued at $179,418,000 after acquiring an additional 412,957 shares during the last quarter. State Street Corp lifted its holdings in Hawaiian Electric Industries by 17.6% in the first quarter. State Street Corp now owns 3,718,688 shares of the utilities provider’s stock valued at $157,338,000 after acquiring an additional 557,341 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Hawaiian Electric Industries by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 1,484,010 shares of the utilities provider’s stock worth $62,788,000 after purchasing an additional 14,310 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Hawaiian Electric Industries by 2.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,918 shares of the utilities provider’s stock worth $51,023,000 after purchasing an additional 31,283 shares in the last quarter. 53.30% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
HE has been the topic of a number of research reports. Bank of America cut Hawaiian Electric Industries from a “neutral” rating to an “underperform” rating and set a $43.00 price target on the stock. in a research note on Thursday, August 18th. StockNews.com cut Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Finally, Evercore ISI cut their price objective on Hawaiian Electric Industries to $40.00 in a research report on Monday, August 15th.
Hawaiian Electric Industries Stock Down 1.6 %
Hawaiian Electric Industries (NYSE:HE – Get Rating) last posted its quarterly earnings data on Monday, August 8th. The utilities provider reported $0.48 earnings per share 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 in the previous year, the business posted $0.58 EPS. As a group, equities analysts expect that Hawaiian Electric Industries, Inc. will post 2.13 earnings per share 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. Investors of record on Thursday, August 18th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Wednesday, August 17th. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 63.93%.
Hawaiian Electric Industries Profile
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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