Truist Financial Corp Acquires 2,155 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Truist Financial Corp boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) by 13.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,788 shares of the utilities provider’s stock after buying an additional 2,155 shares during the period. Truist Financial Corp’s holdings in Hawaiian Electric Industries were worth $651,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Hawaiian Electric Industries by 414.0% during the second quarter. Quadrant Capital Group LLC now owns 622 shares of the utilities provider’s stock valued at $25,000 after buying an additional 501 shares during the period. WASHINGTON TRUST Co bought a new stake in Hawaiian Electric Industries during the third quarter valued at $26,000. Trust Co. of Vermont bought a new stake in Hawaiian Electric Industries during the second quarter valued at $30,000. Lazard Asset Management LLC boosted its stake in Hawaiian Electric Industries by 1,468.6% during the second quarter. Lazard Asset Management LLC now owns 800 shares of the utilities provider’s stock valued at $32,000 after buying an additional 749 shares during the period. Finally, Ronald Blue Trust Inc. boosted its stake in Hawaiian Electric Industries by 212.9% during the third quarter. Ronald Blue Trust Inc. now owns 779 shares of the utilities provider’s stock valued at $32,000 after buying an additional 530 shares during the period. Institutional investors own 52.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hawaiian Electric Industries Stock Performance

Shares of HE stock opened at $40.99 on Monday. The stock has a fifty day moving average of $41.07 and a 200 day moving average of $39.69. Hawaiian Electric Industries, Inc. has a 52 week low of $33.18 and a 52 week high of $44.72. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 18.80, a PEG ratio of 7.09 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 (NYSE:HEGet Rating) last issued its quarterly earnings results on Monday, November 7th. The utilities provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. Hawaiian Electric Industries had a return on equity of 10.57% and a net margin of 6.88%. The firm had revenue of $1.04 billion during the quarter. As a group, research analysts expect that Hawaiian Electric Industries, Inc. will post 2.13 earnings per share for the current year.

Hawaiian Electric Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 22nd were paid a $0.35 dividend. The ex-dividend date was Monday, November 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.42%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 64.22%.

Hawaiian Electric Industries Profile

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Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.

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

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