UBS Asset Management Americas Inc. boosted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,010 shares of the utilities provider’s stock after purchasing an additional 17,301 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.14% of Hawaiian Electric Industries worth $5,459,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. First Dallas Securities Inc. purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $152,000. Marshwinds Advisory Co. purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $202,000. Pennsylvania Trust Co purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hawaiian Electric Industries by 53.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,907 shares of the utilities provider’s stock valued at $214,000 after acquiring an additional 2,048 shares during the period. Finally, Regentatlantic Capital LLC purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $231,000. 49.05% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, November 28th. UBS Group assumed coverage on shares of Hawaiian Electric Industries in a research note on Friday, February 2nd. They issued a “sell” rating and a $29.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Hawaiian Electric Industries from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $31.00.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Wednesday, February 14th. The utilities provider reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.02. The business had revenue of $658.60 million during the quarter, compared to analyst estimates of $547.89 million. Hawaiian Electric Industries had a net margin of 6.54% and a return on equity of 8.69%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.41 EPS. sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.88 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Thursday, February 22nd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Wednesday, February 21st. Hawaiian Electric Industries’s payout ratio is 75.61%.
In related news, Director Jeffrey N. Watanabe sold 9,300 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were sold at an average price of $33.18, for a total transaction of $308,574.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.
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Hawaiian Electric Industries 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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