Private Advisor Group LLC Purchases Shares of 4,741 Hawaiian Electric Industries, Inc. (NYSE:HE)

Private Advisor Group LLC acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the first quarter, Holdings Channel.com reports. The fund acquired 4,741 shares of the utilities provider’s stock, valued at approximately $211,000.

Several other large investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of Hawaiian Electric Industries by 1.6% during the 4th quarter. Wells Fargo & Company MN now owns 3,083,749 shares of the utilities provider’s stock valued at $109,134,000 after acquiring an additional 49,651 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hawaiian Electric Industries by 6.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,680,463 shares of the utilities provider’s stock valued at $59,472,000 after acquiring an additional 95,429 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Hawaiian Electric Industries by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,038,748 shares of the utilities provider’s stock valued at $36,762,000 after acquiring an additional 21,980 shares during the last quarter. Norges Bank acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at $30,760,000. Finally, FMR LLC lifted its holdings in shares of Hawaiian Electric Industries by 96.6% in the first quarter. FMR LLC now owns 567,340 shares of the utilities provider’s stock valued at $23,131,000 after purchasing an additional 278,694 shares in the last quarter. Institutional investors own 47.29% of the company’s stock.

A number of analysts have recently issued reports on HE shares. Guggenheim lowered Hawaiian Electric Industries from a “neutral” rating to a “sell” rating and set a $30.00 target price for the company. in a report on Wednesday, January 20th. Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a report on Wednesday, March 24th. Bank of America upgraded Hawaiian Electric Industries from an “underperform” rating to a “neutral” rating and increased their target price for the company from $35.00 to $36.00 in a report on Thursday, February 18th. Finally, Wells Fargo & Company increased their price objective on Hawaiian Electric Industries from $34.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Hawaiian Electric Industries currently has a consensus rating of “Hold” and a consensus price target of $37.75.

Shares of NYSE:HE opened at $44.25 on Wednesday. Hawaiian Electric Industries, Inc. has a 52-week low of $31.83 and a 52-week high of $45.97. The company has a market cap of $4.84 billion, a P/E ratio of 22.58, a P/E/G ratio of 11.18 and a beta of 0.18. The stock’s 50-day moving average is $43.36 and its 200-day moving average is $37.59. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.07 and a current ratio of 0.07.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, May 7th. The utilities provider reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.23. Hawaiian Electric Industries had a return on equity of 9.06% and a net margin of 8.10%. As a group, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.72 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 10th. Investors of record on Thursday, May 20th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Wednesday, May 19th. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 68.34%.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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