Comerica Bank Sells 800 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Comerica Bank lowered its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,358 shares of the utilities provider’s stock after selling 800 shares during the quarter. Comerica Bank’s holdings in Hawaiian Electric Industries were worth $2,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp increased its position in Hawaiian Electric Industries by 18.3% during the third quarter. Van ECK Associates Corp now owns 24,612 shares of the utilities provider’s stock worth $853,000 after acquiring an additional 3,808 shares during the period. Assenagon Asset Management S.A. bought a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $216,000. Strs Ohio increased its holdings in Hawaiian Electric Industries by 8.7% in the 3rd quarter. Strs Ohio now owns 65,701 shares of the utilities provider’s stock valued at $2,277,000 after buying an additional 5,282 shares during the period. Truist Financial Corp increased its holdings in Hawaiian Electric Industries by 13.0% in the 3rd quarter. Truist Financial Corp now owns 18,788 shares of the utilities provider’s stock valued at $651,000 after buying an additional 2,155 shares during the period. Finally, Wipfli Financial Advisors LLC bought a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $155,000. Institutional investors own 52.99% of the company’s stock.

Hawaiian Electric Industries Stock Down 0.7 %

Shares of NYSE HE opened at $41.04 on Friday. The firm’s 50-day simple moving average is $41.04 and its 200 day simple moving average is $39.71. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 7.34 and a beta of 0.39. 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, Inc. has a 12-month low of $33.18 and a 12-month high of $44.72.

Hawaiian Electric Industries (NYSE:HE – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The business had revenue of $1.04 billion for the quarter. Hawaiian Electric Industries had a net margin of 6.88% and a return on equity of 10.57%. On average, research 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 business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 22nd were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, November 21st. This represents a $1.40 annualized dividend and a yield of 3.41%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 64.22%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI set a $36.00 price target on shares of Hawaiian Electric Industries in a report on Thursday, November 24th. StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $39.00 to $42.00 and gave the company an “underweight” rating in a research note on Tuesday, January 10th. Finally, Guggenheim reduced their target price on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a research note on Monday, October 24th.

About Hawaiian Electric Industries

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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.