Deutsche Bank AG lowered its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 28.1% in the 4th quarter, HoldingsChannel reports. The fund owned 195,954 shares of the utilities provider’s stock after selling 76,420 shares during the period. Deutsche Bank AG’s holdings in Hawaiian Electric Industries were worth $7,082,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Hawaiian Electric Industries by 1.5% in the fourth quarter. BlackRock Inc. now owns 9,101,455 shares of the utilities provider’s stock worth $329,016,000 after acquiring an additional 135,628 shares in the last quarter. Wells Fargo & Company MN grew its position in Hawaiian Electric Industries by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,924,100 shares of the utilities provider’s stock worth $105,706,000 after acquiring an additional 22,996 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Hawaiian Electric Industries by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,014,372 shares of the utilities provider’s stock worth $33,851,000 after acquiring an additional 29,468 shares in the last quarter. Geode Capital Management LLC grew its position in Hawaiian Electric Industries by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 956,874 shares of the utilities provider’s stock worth $34,590,000 after acquiring an additional 19,972 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Hawaiian Electric Industries by 5.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 646,045 shares of the utilities provider’s stock worth $23,355,000 after acquiring an additional 33,609 shares in the last quarter. Institutional investors own 49.01% of the company’s stock.
Shares of NYSE HE opened at $34.76 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $3,798.56, a price-to-earnings ratio of 21.07, a PEG ratio of 2.76 and a beta of 0.35. Hawaiian Electric Industries, Inc. has a 1 year low of $31.71 and a 1 year high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Wednesday, February 14th. The utilities provider reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.02. The business had revenue of $658.60 million during the quarter, compared to the consensus estimate of $547.89 million. Hawaiian Electric Industries had a net margin of 6.54% and a return on equity of 8.69%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share. sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 13th. Shareholders of record on Thursday, February 22nd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.57%. The ex-dividend date was Wednesday, February 21st. Hawaiian Electric Industries’s payout ratio is currently 75.15%.
In other Hawaiian Electric Industries news, Director Jeffrey N. Watanabe sold 9,300 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $33.18, for a total value of $308,574.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by company insiders.
HE has been the subject of several analyst reports. JPMorgan Chase decreased their price objective on shares of 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. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Finally, UBS initiated coverage on shares of Hawaiian Electric Industries in a research note on Friday, February 2nd. They issued a “sell” rating and a $29.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.00.
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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).
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