Hawaiian Electric Industries, Inc. (HE) Position Raised by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 14.4% in the fourth quarter, HoldingsChannel reports. The firm owned 12,912 shares of the utilities provider’s stock after acquiring an additional 1,625 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hawaiian Electric Industries were worth $467,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC increased its holdings in Hawaiian Electric Industries by 10.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 435,253 shares of the utilities provider’s stock valued at $14,524,000 after purchasing an additional 39,948 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Hawaiian Electric Industries by 10.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 62,470 shares of the utilities provider’s stock valued at $2,085,000 after buying an additional 6,006 shares during the period. New York State Common Retirement Fund increased its stake in shares of Hawaiian Electric Industries by 3.2% in the 3rd quarter. New York State Common Retirement Fund now owns 229,200 shares of the utilities provider’s stock valued at $7,648,000 after buying an additional 7,000 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Hawaiian Electric Industries by 5.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 646,045 shares of the utilities provider’s stock valued at $23,355,000 after buying an additional 33,609 shares during the period. Finally, Swiss National Bank increased its stake in shares of Hawaiian Electric Industries by 1.8% in the 4th quarter. Swiss National Bank now owns 185,300 shares of the utilities provider’s stock valued at $6,699,000 after buying an additional 3,300 shares during the period. 49.05% of the stock is owned by hedge funds and other institutional investors.

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Shares of Hawaiian Electric Industries, Inc. (HE) opened at $34.13 on Friday. The company has a market capitalization of $3,675.57, a price-to-earnings ratio of 22.45, a PEG ratio of 2.67 and a beta of 0.39. Hawaiian Electric Industries, Inc. has a 52 week low of $31.71 and a 52 week high of $38.72. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.08 and a quick ratio of 0.08.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Wednesday, February 14th. The utilities provider reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The company had revenue of $658.60 million during the quarter, compared to analysts’ expectations of $547.89 million. Hawaiian Electric Industries had a return on equity of 8.69% and a net margin of 6.54%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $0.41 EPS. sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Investors of record on Thursday, February 22nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.63%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 81.58%.

In related news, Director Jeffrey N. Watanabe sold 9,300 shares of Hawaiian Electric Industries stock in a transaction on Monday, March 5th. The stock was sold at an average price of $33.18, for a total transaction of $308,574.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by insiders.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. JPMorgan Chase & Co. lowered their target price on Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. Finally, UBS assumed coverage on Hawaiian Electric Industries in a research note on Friday, February 2nd. They issued a “sell” rating and a $29.00 target price for the company. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.00.

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Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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

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