Vident Investment Advisory LLC decreased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 13.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,923 shares of the utilities provider’s stock after selling 6,422 shares during the period. Vident Investment Advisory LLC’s holdings in Hawaiian Electric Industries were worth $1,440,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ValueAct Holdings L.P. increased its position in Hawaiian Electric Industries by 59.7% in the 1st quarter. ValueAct Holdings L.P. now owns 3,246,668 shares of the utilities provider’s stock valued at $139,769,000 after acquiring an additional 1,213,205 shares during the period. Norges Bank acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at approximately $40,445,000. Wells Fargo & Company MN raised its stake in shares of Hawaiian Electric Industries by 11.2% during the first quarter. Wells Fargo & Company MN now owns 3,076,310 shares of the utilities provider’s stock worth $132,434,000 after purchasing an additional 308,926 shares during the last quarter. FMR LLC raised its stake in shares of Hawaiian Electric Industries by 96.6% during the first quarter. FMR LLC now owns 567,340 shares of the utilities provider’s stock worth $23,131,000 after purchasing an additional 278,694 shares during the last quarter. Finally, Bessemer Group Inc. acquired a new stake in shares of Hawaiian Electric Industries during the first quarter worth $10,349,000. 54.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on HE shares. Wells Fargo & Co cut their price objective on shares of Hawaiian Electric Industries from $46.00 to $40.00 and set an “underweight” rating for the company in a research report on Tuesday, April 14th. UBS Group dropped their price target on shares of Hawaiian Electric Industries from $37.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Hawaiian Electric Industries has a consensus rating of “Hold” and a consensus target price of $47.67.
In related news, CFO Gregory C. Hazelton sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $39.50, for a total value of $197,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.35% of the stock is owned by insiders.
Shares of NYSE HE opened at $36.26 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.08 and a current ratio of 0.08. Hawaiian Electric Industries, Inc. has a one year low of $33.51 and a one year high of $55.15. The firm has a market capitalization of $3.96 billion, a P/E ratio of 19.19, a PEG ratio of 12.92 and a beta of 0.16. The company’s fifty day moving average is $36.42 and its two-hundred day moving average is $41.51.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.14). Hawaiian Electric Industries had a return on equity of 9.19% and a net margin of 7.16%. The company had revenue of $677.20 million for the quarter, compared to analysts’ expectations of $686.36 million. During the same period in the prior year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.68 earnings per share for the current fiscal year.
About Hawaiian Electric Industries
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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