Mitsubishi UFJ Trust & Banking Corp Sells 2,902 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) by 25.6% in the second quarter, HoldingsChannel reports. The firm owned 8,418 shares of the utilities provider’s stock after selling 2,902 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Hawaiian Electric Industries were worth $344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in Hawaiian Electric Industries during the first quarter worth $29,000. Trust Co. of Vermont bought a new position in Hawaiian Electric Industries during the second quarter worth $30,000. ACG Wealth bought a new stake in shares of Hawaiian Electric Industries in the second quarter valued at about $33,000. Lazard Asset Management LLC boosted its position in shares of Hawaiian Electric Industries by 1,468.6% in the second quarter. Lazard Asset Management LLC now owns 800 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 749 shares during the period. Finally, CX Institutional bought a new stake in shares of Hawaiian Electric Industries in the second quarter valued at about $45,000. 53.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America cut shares of Hawaiian Electric Industries from a “neutral” rating to an “underperform” rating and set a $43.00 target price for the company. in a research report on Thursday, August 18th. StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Guggenheim reduced their target price on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a research report on Monday, October 24th. Evercore ISI reduced their target price on shares of Hawaiian Electric Industries to $40.00 in a research report on Monday, August 15th. Finally, Wells Fargo & Company reduced their target price on shares of Hawaiian Electric Industries from $42.00 to $36.00 and set an “underweight” rating for the company in a research report on Wednesday, October 19th.

Hawaiian Electric Industries Stock Up 1.0 %

HE stock opened at $40.03 on Wednesday. The company has a market cap of $4.38 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 7.23 and a beta of 0.40. The business has a 50-day simple moving average of $37.00 and a 200 day simple moving average of $39.72. Hawaiian Electric Industries, Inc. has a 52 week low of $33.18 and a 52 week high of $44.72. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.12.

Hawaiian Electric Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 22nd will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, November 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 64.22%.

Hawaiian Electric Industries Company Profile

(Get Rating)

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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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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