Hawaiian Electric Industries (NYSE:HE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Hawaiian Electric Industries (NYSE:HE – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the utilities provider’s stock.

A number of other brokerages also recently commented on HE. Evercore ISI set a $36.00 price objective on Hawaiian Electric Industries in a research report on Thursday, November 24th. Guggenheim dropped their target price on Hawaiian Electric Industries from $43.00 to $42.00 and set a neutral rating for the company in a report on Wednesday, February 15th. Finally, Wells Fargo & Company increased their target price on Hawaiian Electric Industries from $39.00 to $42.00 and gave the stock an underweight rating in a report on Tuesday, January 10th.

Hawaiian Electric Industries Price Performance

Shares of HE stock opened at $37.57 on Thursday. The stock has a 50 day moving average of $41.04 and a two-hundred day moving average of $39.55. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 1.10. Hawaiian Electric Industries has a 12 month low of $33.18 and a 12 month high of $44.72. The company has a market capitalization of $4.11 billion, a P/E ratio of 17.08, a P/E/G ratio of 5.49 and a beta of 0.41.

Hawaiian Electric Industries Increases Dividend

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

Insider Activity at Hawaiian Electric Industries

In related news, Director Keith P. Russell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $39.21, for a total transaction of $392,100.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D increased its holdings in Hawaiian Electric Industries by 10.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 69,632 shares of the utilities provider’s stock valued at $2,413,000 after purchasing an additional 6,758 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in Hawaiian Electric Industries by 724.8% in the 3rd quarter. ExodusPoint Capital Management LP now owns 45,645 shares of the utilities provider’s stock valued at $1,582,000 after buying an additional 40,111 shares during the last quarter. Kestra Advisory Services LLC boosted its position in Hawaiian Electric Industries by 50.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 7,705 shares of the utilities provider’s stock valued at $267,000 after buying an additional 2,585 shares during the last quarter. Utah Retirement Systems boosted its position in Hawaiian Electric Industries by 5.5% in the 3rd quarter. Utah Retirement Systems now owns 5,800 shares of the utilities provider’s stock valued at $201,000 after buying an additional 300 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in Hawaiian Electric Industries by 3.6% in the 3rd quarter. International Assets Investment Management LLC now owns 7,910 shares of the utilities provider’s stock valued at $274,000 after buying an additional 273 shares during the last quarter. 52.99% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

(Get Rating)

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.