UBS Group AG decreased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 22.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,204 shares of the utilities provider’s stock after selling 29,910 shares during the period. UBS Group AG owned approximately 0.10% of Hawaiian Electric Industries worth $4,572,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Strs Ohio raised its position in Hawaiian Electric Industries by 132.0% in the 4th quarter. Strs Ohio now owns 29,097 shares of the utilities provider’s stock worth $1,363,000 after buying an additional 16,557 shares during the last quarter. Credit Suisse AG raised its position in Hawaiian Electric Industries by 10.8% in the 4th quarter. Credit Suisse AG now owns 104,128 shares of the utilities provider’s stock worth $4,880,000 after buying an additional 10,180 shares during the last quarter. Citigroup Inc. raised its position in Hawaiian Electric Industries by 12.9% in the 4th quarter. Citigroup Inc. now owns 58,059 shares of the utilities provider’s stock worth $2,721,000 after buying an additional 6,653 shares during the last quarter. Geode Capital Management LLC raised its position in Hawaiian Electric Industries by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,244,454 shares of the utilities provider’s stock worth $58,315,000 after buying an additional 31,632 shares during the last quarter. Finally, Norges Bank purchased a new position in Hawaiian Electric Industries in the 4th quarter worth about $40,445,000. Institutional investors own 53.91% of the company’s stock.

In related news, CEO Richard F. Wacker sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $46.39, for a total value of $1,855,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Holdings L.P. Valueact bought 542,252 shares of Hawaiian Electric Industries stock in a transaction that occurred on Friday, March 13th. The stock was purchased at an average cost of $41.11 per share, with a total value of $22,291,979.72. The disclosure for this purchase can be found here. Corporate insiders own 2.35% of the company’s stock.

NYSE HE opened at $37.54 on Friday. Hawaiian Electric Industries, Inc. has a 52 week low of $33.51 and a 52 week high of $55.15. The firm has a market capitalization of $4.17 billion, a P/E ratio of 19.86, a PEG ratio of 13.63 and a beta of 0.18. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $39.86 and a 200-day moving average price of $44.24.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.14). The firm had revenue of $677.20 million during the quarter, compared to analysts’ expectations of $686.36 million. Hawaiian Electric Industries had a return on equity of 9.19% and a net margin of 7.16%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Thursday, May 21st. Hawaiian Electric Industries’s dividend payout ratio is 66.33%.

A number of brokerages have weighed in on HE. Jefferies Financial Group lowered Hawaiian Electric Industries to a “hold” rating and set a $85.00 target price for the company. in a research report on Tuesday, March 31st. UBS Group reduced their price target on shares of Hawaiian Electric Industries from $37.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, May 7th. Finally, Wells Fargo & Co reduced their price target 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. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Hawaiian Electric Industries presently has a consensus rating of “Hold” and a consensus target price of $47.67.

Hawaiian Electric Industries Profile

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

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