Donoghue Forlines LLC acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) stock during the third quarter, according to its recent filing with the Securities and Exchange Commission. The fund bought 11,926 shares of the utility company’s shares, valued at about $413,000.
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Other institutional investors and hedge funds have also bought and sold shares in the company. State Street Corp increased its position in shares of Hawaiian Electric Industries by 17.6% in the first quarter. State Street Corp now owns 3,718,688 shares of the utility worth $157,338,000 after purchasing an additional 557,341 shares last quarter. Allianz Asset Management GmbH increased its stake in Hawaiian Electric Industries by 82.7% in the first quarter. Allianz Asset Management GmbH now owns 528,645 shares of the utility worth $22,367,000 after purchasing an additional 239,242 shares last quarter. Renaissance Technologies LLC increased its stake in Hawaiian Electric Industries by 95.5% during the second quarter. Renaissance Technologies LLC now owns 400,100 shares of the utility company’s stock valued at $16,364,000 after purchasing an additional 195,400 shares last quarter. Point72 Asset Management LP increased its stake in Hawaiian Electric Industries by 643.2% during the second quarter. Point72 Asset Management LP now owns 201,400 shares of the utility worth $8,237,000 after purchasing an additional 174,300 shares last quarter. Finally, FMR LLC increased its stake in Hawaiian Electric Industries by 33.9% during the second quarter. FMR LLC now owns 687,985 shares of the utility company’s stock valued at $28,138,000 after purchasing an additional 174,025 shares last quarter. 52.99% of the shares are owned by institutional investors.
Analysts set new price targets
Several research analysts recently covered HE stock. StockNews.com began coverage of Hawaiian Electric Industries in a research note on Wednesday, October 12. They give the stock a “hold” rating. Wells Fargo & Company raised its target price on Hawaiian Electric Industries to $42.00 from $39.00 and rated the company “underweight” in a research note on Tuesday, January 10. Guggenheim lowered its price target on Hawaiian Electric Industries from $41.00 to $36.00 in a research note on Monday, October 24. Finally, Evercore ISI posted a price target of $36.00 for Hawaiian Electric Industries in a research note on Thursday, November 24th.
Shares of Hawaiian Electric Industries down 0.4%
HE shares opened at $41.47 on Tuesday. Hawaiian Electric Industries, Inc. has a 52-week low of $33.18 and a 52-week high of $44.72. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt to equity ratio of 1.12. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 7.20 and a beta of 0.39. The stock’s 50-day moving average price is $41.35 and its 200-day moving average price is $39.74.
Hawaiian Electric Industries (NYSE:HE – Get Rating) last released its quarterly earnings results on Monday, November 7th. The utility provider reported earnings per share of $0.57 for the quarter, beating analyst consensus estimates of $0.54 by $0.03. The company had revenue of $1.04 billion for the quarter. Hawaiian Electric Industries had a return on equity of 10.57% and a net margin of 6.88%. On average, sell-side analysts are forecasting that Hawaiian Electric Industries, Inc. will post 2.13 EPS for the year to date.
Hawaiian Electric Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 22 were paid a dividend of $0.35. The ex-dividend date was Monday November 21st. That equates to a dividend of $1.40 on an annualized basis and a yield of 3.38%. Hawaiian Electric Industries RTP is 64.22%.
Company Profile of Hawaiian Electric Industries
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Hawaiian Electric Industries, Inc is a holding company engaged in energy, finance and investments in renewable and sustainable infrastructure. It operates through the following segments: Power Supply, Bank and Other. The Electric Utility segment provides basic electrical services on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.
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