Argent Trust Co Invests $221,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

Argent Trust Co purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 5,283 shares of the utilities provider’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp lifted its position in Hawaiian Electric Industries by 17.6% during the first quarter. State Street Corp now owns 3,718,688 shares of the utilities provider’s stock valued at $157,338,000 after purchasing an additional 557,341 shares in the last quarter. PATRIZIA Pty Ltd purchased a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at about $11,564,000. Vanguard Group Inc. lifted its position in shares of Hawaiian Electric Industries by 2.1% in the third quarter. Vanguard Group Inc. now owns 12,016,050 shares of the utilities provider’s stock valued at $416,476,000 after acquiring an additional 245,066 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Hawaiian Electric Industries by 82.7% in the first quarter. Allianz Asset Management GmbH now owns 528,645 shares of the utilities provider’s stock worth $22,367,000 after purchasing an additional 239,242 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new stake in shares of Hawaiian Electric Industries in the third quarter worth about $7,703,000. 52.99% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Down 0.2 %

HE opened at $35.85 on Friday. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 3.69 and a beta of 0.41. The stock’s 50 day moving average price is $38.10 and its 200-day moving average price is $39.92. Hawaiian Electric Industries, Inc. has a one year low of $33.18 and a one year high of $44.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.08 and a current ratio of 0.08.

Hawaiian Electric Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 9th. Stockholders of record on Friday, May 19th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, May 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.02%. Hawaiian Electric Industries’s dividend payout ratio is 69.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HE. Guggenheim reduced their target price on Hawaiian Electric Industries from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, February 15th. StockNews.com began coverage on Hawaiian Electric Industries in a research note on Thursday, May 18th. They set a “hold” rating on the stock.

Insider Activity at Hawaiian Electric Industries

In related news, Director Keith P. Russell sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $39.21, for a total value of $392,100.00. Following the completion of the sale, the director now owns 23,447 shares in the company, valued at $919,356.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.

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.