Texas Permanent School Fund increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 0.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 79,399 shares of the utilities provider’s stock after buying an additional 666 shares during the period. Texas Permanent School Fund owned approximately 0.07% of Hawaiian Electric Industries worth $2,571,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Hawaiian Electric Industries by 5.3% in the first quarter. Vanguard Group Inc. now owns 9,685,627 shares of the utilities provider’s stock worth $322,628,000 after buying an additional 489,152 shares during the period. BlackRock Inc. boosted its stake in Hawaiian Electric Industries by 6,287.3% in the first quarter. BlackRock Inc. now owns 9,095,425 shares of the utilities provider’s stock worth $302,969,000 after buying an additional 8,953,026 shares during the period. State Street Corp boosted its stake in Hawaiian Electric Industries by 9.1% in the first quarter. State Street Corp now owns 3,154,471 shares of the utilities provider’s stock worth $105,075,000 after buying an additional 262,357 shares during the period. Bank of New York Mellon Corp boosted its stake in Hawaiian Electric Industries by 26.2% in the first quarter. Bank of New York Mellon Corp now owns 2,874,592 shares of the utilities provider’s stock worth $95,753,000 after buying an additional 596,759 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Hawaiian Electric Industries by 40.5% in the first quarter. Wells Fargo & Company MN now owns 2,629,891 shares of the utilities provider’s stock worth $87,602,000 after buying an additional 757,984 shares during the period. Institutional investors own 48.55% of the company’s stock.
Shares of Hawaiian Electric Industries, Inc. (NYSE HE) traded up 0.36% on Friday, reaching $33.18. The company’s stock had a trading volume of 338,427 shares. Hawaiian Electric Industries, Inc. has a 52-week low of $28.31 and a 52-week high of $34.08. The firm’s 50 day moving average is $32.67 and its 200-day moving average is $33.10. The stock has a market cap of $3.61 billion, a P/E ratio of 14.77 and a beta of 0.46.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The firm had revenue of $556.90 million during the quarter, compared to the consensus estimate of $568 million. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post $1.63 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 23rd will be paid a $0.31 dividend. The ex-dividend date is Monday, August 21st. This represents a $1.24 annualized dividend and a dividend yield of 3.74%. Hawaiian Electric Industries’s payout ratio is presently 55.11%.
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A number of research firms recently weighed in on HE. BidaskClub upgraded Hawaiian Electric Industries from a “strong sell” rating to a “sell” rating in a research note on Saturday. Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Barclays PLC restated an “underweight” rating and issued a $29.00 price target (up previously from $27.00) on shares of Hawaiian Electric Industries in a research note on Sunday, April 23rd.
About Hawaiian Electric Industries
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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