State Board of Administration of Florida Retirement System lifted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,116 shares of the utilities provider’s stock after acquiring an additional 6,278 shares during the period. State Board of Administration of Florida Retirement System owned 0.17% of Hawaiian Electric Industries worth $8,149,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Hawaiian Electric Industries by 3.1% in the first quarter. BlackRock Inc. now owns 10,144,712 shares of the utilities provider’s stock worth $413,600,000 after acquiring an additional 305,064 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Hawaiian Electric Industries by 6.6% in the first quarter. Acadian Asset Management LLC now owns 1,435,359 shares of the utilities provider’s stock valued at $58,519,000 after purchasing an additional 88,818 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Hawaiian Electric Industries by 0.9% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,304,124 shares of the utilities provider’s stock valued at $56,795,000 after purchasing an additional 11,575 shares during the last quarter. First Trust Advisors LP raised its stake in Hawaiian Electric Industries by 26.4% during the second quarter. First Trust Advisors LP now owns 1,135,603 shares of the utilities provider’s stock valued at $49,456,000 after buying an additional 237,394 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Hawaiian Electric Industries by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 1,080,009 shares of the utilities provider’s stock valued at $39,549,000 after buying an additional 66,153 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors.
HE has been the topic of a number of research reports. Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 price target on the stock. in a research report on Wednesday, May 29th. JPMorgan Chase & Co. cut Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $37.00 to $38.00 in a research report on Friday, August 9th.
Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, August 2nd. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Hawaiian Electric Industries had a return on equity of 9.47% and a net margin of 7.07%. The business had revenue of $715.49 million during the quarter, compared to the consensus estimate of $592.84 million. During the same period last year, the company earned $0.42 earnings per share. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.92 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, August 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 69.19%.
In related news, Director Jeffrey N. Watanabe sold 5,700 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $44.21, for a total value of $251,997.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company’s stock.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.
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