First Trust Advisors LP Has $79.75 Million Holdings in Hawaiian Electric Industries, Inc. (HE)

First Trust Advisors LP lowered its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,389,848 shares of the utilities provider’s stock after selling 40,230 shares during the period. First Trust Advisors LP owned approximately 2.20% of Hawaiian Electric Industries worth $79,749,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its position in shares of Hawaiian Electric Industries by 12.9% during the second quarter. Great West Life Assurance Co. Can now owns 72,717 shares of the utilities provider’s stock valued at $2,353,000 after buying an additional 8,324 shares during the last quarter. Stifel Financial Corp raised its position in shares of Hawaiian Electric Industries by 35.1% during the second quarter. Stifel Financial Corp now owns 21,906 shares of the utilities provider’s stock valued at $705,000 after buying an additional 5,688 shares during the last quarter. First Hawaiian Bank raised its position in shares of Hawaiian Electric Industries by 124.5% during the second quarter. First Hawaiian Bank now owns 29,887 shares of the utilities provider’s stock valued at $968,000 after buying an additional 16,575 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Hawaiian Electric Industries during the second quarter valued at about $1,031,000. Finally, Legal & General Group Plc raised its position in shares of Hawaiian Electric Industries by 12.1% during the second quarter. Legal & General Group Plc now owns 200,558 shares of the utilities provider’s stock valued at $6,495,000 after buying an additional 21,628 shares during the last quarter. 48.22% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries, Inc. (NYSE:HE) traded down $0.17 on Friday, hitting $36.23. 913,300 shares of the stock traded hands, compared to its average volume of 450,422. Hawaiian Electric Industries, Inc. has a twelve month low of $28.92 and a twelve month high of $36.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $3,959.81, a PE ratio of 22.33, a P/E/G ratio of 5.25 and a beta of 0.49.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. The company had revenue of $673.19 million for the quarter, compared to the consensus estimate of $648.93 million. During the same period last year, the company earned $0.58 earnings per share. Hawaiian Electric Industries’s revenue for the quarter was up 4.2% compared to the same quarter last year. sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.63 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Wednesday, November 22nd will be issued a $0.31 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.24 annualized dividend and a yield of 3.42%. Hawaiian Electric Industries’s dividend payout ratio is currently 76.07%.

In related news, Director Thomas B. Fargo sold 5,500 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $36.46, for a total value of $200,530.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

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Several research analysts recently issued reports on the stock. Bank of America Corporation assumed coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price target for the company. Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. J P Morgan Chase & Co upped their price objective on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Finally, BidaskClub raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Four investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The company has an average rating of “Sell” and a consensus target price of $32.33.

About Hawaiian Electric Industries

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).

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

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