3,192 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Bought by Counterpoint Mutual Funds LLC

Posted by Erica Schwartz on Mar 19th, 2023

Counterpoint Mutual Funds LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,192 shares of the utilities provider’s stock, valued at approximately $134,000.

Several other hedge funds also recently made changes to their positions in HE. Raymond James & Associates boosted its holdings in Hawaiian Electric Industries by 7.5% in the first quarter. Raymond James & Associates now owns 15,301 shares of the utilities provider’s stock valued at $647,000 after acquiring an additional 1,065 shares in the last quarter. American Century Companies Inc. boosted its holdings in Hawaiian Electric Industries by 17.8% in the first quarter. American Century Companies Inc. now owns 15,808 shares of the utilities provider’s stock valued at $669,000 after acquiring an additional 2,388 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Hawaiian Electric Industries in the first quarter valued at $465,000. Bank of Montreal Can boosted its holdings in Hawaiian Electric Industries by 3.0% in the first quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock valued at $584,000 after acquiring an additional 403 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Hawaiian Electric Industries in the first quarter valued at $757,000. 52.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hawaiian Electric Industries

In other news, Director Keith P. Russell sold 10,000 shares of Hawaiian Electric Industries stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $39.21, for a total value of $392,100.00. Following the completion of the transaction, the director now owns 23,447 shares of the company’s stock, valued at approximately $919,356.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.86% of the stock is owned by insiders.

Hawaiian Electric Industries Stock Down 0.8 %

Shares of HE traded down $0.32 during trading hours on Friday, hitting $37.57. The company had a trading volume of 818,577 shares, compared to its average volume of 528,945. The firm has a fifty day moving average price of $41.04 and a 200-day moving average price of $39.55. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 5.49 and a beta of 0.41. Hawaiian Electric Industries, Inc. has a 52-week low of $33.18 and a 52-week high of $44.72.

Hawaiian Electric Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Wednesday, February 22nd. This is a positive change from Hawaiian Electric Industries’s previous quarterly dividend of $0.35. Hawaiian Electric Industries’s payout ratio is currently 65.45%.

Analysts Set New Price Targets

A number of analysts have recently commented on HE shares. Evercore ISI set a $36.00 target price on shares of Hawaiian Electric Industries in a report on Thursday, November 24th. StockNews.com started coverage on shares of Hawaiian Electric Industries in a report on Thursday. They set a “hold” rating on the stock. Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Tuesday, January 10th. Finally, Guggenheim dropped their target price on shares of Hawaiian Electric Industries from $43.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, February 15th.

About Hawaiian Electric Industries

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Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.