Hawaiian Electric Industries, Inc. (HE) Position Lifted by Parallel Advisors LLC
Parallel Advisors LLC increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 33.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,399 shares of the utilities provider’s stock after acquiring an additional 2,612 shares during the quarter. Parallel Advisors LLC’s holdings in Hawaiian Electric Industries were worth $383,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in HE. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of Hawaiian Electric Industries during the 2nd quarter worth about $123,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hawaiian Electric Industries by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 297 shares during the period. Ffcm LLC increased its holdings in shares of Hawaiian Electric Industries by 121.0% during the 2nd quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 2,642 shares during the period. TLP Group LLC increased its holdings in shares of Hawaiian Electric Industries by 818.4% during the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 4,804 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in shares of Hawaiian Electric Industries during the 2nd quarter worth about $201,000. Hedge funds and other institutional investors own 49.26% of the company’s stock.
Hawaiian Electric Industries, Inc. (NYSE HE) traded down $0.52 during trading hours on Wednesday, hitting $37.33. 424,900 shares of the stock traded hands, compared to its average volume of 446,308. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.83 and a current ratio of 0.83. Hawaiian Electric Industries, Inc. has a one year low of $31.71 and a one year high of $38.72. The company has a market cap of $4,117.55, a P/E ratio of 23.22, a price-to-earnings-growth ratio of 5.44 and a beta of 0.50.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. The business had revenue of $673.19 million for the quarter, compared to analyst estimates of $648.93 million. During the same quarter last year, the firm posted $0.58 earnings per share. Hawaiian Electric Industries’s revenue was up 4.2% on a year-over-year basis. research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Wednesday, November 22nd were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.24 annualized dividend and a dividend yield of 3.32%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is currently 76.07%.
In other news, Director Thomas B. Fargo sold 5,500 shares of Hawaiian Electric Industries stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on HE shares. BidaskClub upgraded shares of Hawaiian Electric Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, August 19th. J P Morgan Chase & Co boosted their price objective on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Zacks Investment Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, Bank of America started coverage on shares of Hawaiian Electric Industries in a report on Tuesday, October 24th. They set an “underperform” rating and a $34.00 price objective on the stock. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $32.33.
Hawaiian Electric Industries Company Profile
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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