Acadian Asset Management LLC grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 5.0% during the third quarter, HoldingsChannel.com reports. The firm owned 909,081 shares of the utilities provider’s stock after buying an additional 42,973 shares during the quarter. Acadian Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $32,353,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of HE. LPL Financial LLC increased its holdings in shares of Hawaiian Electric Industries by 17.0% during the first quarter. LPL Financial LLC now owns 18,340 shares of the utilities provider’s stock valued at $631,000 after purchasing an additional 2,661 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Hawaiian Electric Industries by 19.5% during the first quarter. Guggenheim Capital LLC now owns 57,889 shares of the utilities provider’s stock valued at $1,990,000 after purchasing an additional 9,440 shares during the period. Legal & General Group Plc increased its holdings in shares of Hawaiian Electric Industries by 8.7% during the first quarter. Legal & General Group Plc now owns 254,844 shares of the utilities provider’s stock valued at $8,761,000 after purchasing an additional 20,421 shares during the period. Royal Bank of Canada increased its holdings in shares of Hawaiian Electric Industries by 0.9% during the first quarter. Royal Bank of Canada now owns 425,846 shares of the utilities provider’s stock valued at $14,641,000 after purchasing an additional 3,980 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Hawaiian Electric Industries during the first quarter valued at $252,000. 51.59% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on HE. Wells Fargo & Co raised their price target on Hawaiian Electric Industries from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Monday, September 17th. Zacks Investment Research lowered Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Hawaiian Electric Industries currently has a consensus rating of “Hold” and a consensus price target of $34.00.
Shares of HE opened at $36.93 on Friday. The firm has a market cap of $4.08 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 3.08 and a beta of 0.28. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.85. Hawaiian Electric Industries, Inc. has a one year low of $31.72 and a one year high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $685.28 million for the quarter, compared to analyst estimates of $637.52 million. Hawaiian Electric Industries had a return on equity of 9.28% and a net margin of 6.78%. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.85 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 11th. Investors of record on Wednesday, November 21st will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Tuesday, November 20th. Hawaiian Electric Industries’s payout ratio is currently 75.15%.
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, sugarcane waste, municipal waste, and other bio fuels.
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