Hawaiian Electric Industries, Inc. (NYSE:HE) Director Sells $392,100.00 in Stock

Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) Director Keith P. Russell sold 10,000 shares of Hawaiian Electric Industries stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $39.21, for a total transaction of $392,100.00. Following the transaction, the director now directly owns 23,447 shares of the company’s stock, valued at $919,356.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hawaiian Electric Industries Stock Down 4.5 %

Shares of NYSE:HE opened at $37.33 on Friday. Hawaiian Electric Industries, Inc. has a one year low of $33.18 and a one year high of $44.72. The company has a 50 day moving average of $41.54 and a 200-day moving average of $39.65. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 5.67 and a beta of 0.41.

Hawaiian Electric Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd were given a dividend of $0.36 per share. This is a boost from Hawaiian Electric Industries’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.44 annualized dividend and a dividend yield of 3.86%. Hawaiian Electric Industries’s payout ratio is currently 65.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Guggenheim dropped their target price on shares of Hawaiian Electric Industries from $43.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, February 15th. Evercore ISI set a $36.00 target price on shares of Hawaiian Electric Industries in a research note on Thursday, November 24th. Finally, Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 10th.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several institutional investors have recently modified their holdings of HE. Raymond James & Associates grew its position in shares of Hawaiian Electric Industries by 7.5% during the 1st quarter. Raymond James & Associates now owns 15,301 shares of the utilities provider’s stock worth $647,000 after buying an additional 1,065 shares during the period. American Century Companies Inc. grew its holdings in Hawaiian Electric Industries by 17.8% during the first quarter. American Century Companies Inc. now owns 15,808 shares of the utilities provider’s stock valued at $669,000 after purchasing an additional 2,388 shares during the period. Natixis Advisors L.P. acquired a new position in Hawaiian Electric Industries during the first quarter valued at approximately $465,000. Bank of Montreal Can grew its holdings in Hawaiian Electric Industries by 3.0% during the first quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock valued at $584,000 after purchasing an additional 403 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Hawaiian Electric Industries during the first quarter valued at approximately $757,000. Institutional investors and hedge funds own 52.99% of the company’s stock.

Hawaiian Electric Industries Company 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.