HighTower Advisors LLC Has $416,000 Position in Hawaiian Electric Industries, Inc. (HE)

HighTower Advisors LLC decreased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 48.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,490 shares of the utilities provider’s stock after selling 11,513 shares during the period. HighTower Advisors LLC’s holdings in Hawaiian Electric Industries were worth $416,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HE. BlackRock Inc. increased its position in shares of 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. Norges Bank acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter worth about $50,144,000. Wells Fargo & Company MN increased its position in shares of 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. Bank of New York Mellon Corp increased its position in shares of 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, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Hawaiian Electric Industries by 631.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 591,407 shares of the utilities provider’s stock worth $19,700,000 after buying an additional 510,595 shares during the period. Institutional investors own 48.23% of the company’s stock.

Hawaiian Electric Industries, Inc. (HE) traded up 0.15% on Friday, reaching $33.06. The company’s stock had a trading volume of 356,685 shares. The firm has a market capitalization of $3.60 billion, a P/E ratio of 14.72 and a beta of 0.46. Hawaiian Electric Industries, Inc. has a 52-week low of $28.31 and a 52-week high of $34.08. The firm has a 50-day moving average price of $32.61 and a 200 day moving average price of $33.09.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.03. The business had revenue of $556.90 million for the quarter, compared to analyst estimates of $568 million. Hawaiian Electric Industries had a return on equity of 8.83% and a net margin of 9.91%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. Equities analysts anticipate that Hawaiian Electric Industries, Inc. will post $1.63 earnings per share for the current fiscal year.

The company also recently declared 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. This represents a $1.24 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, August 21st. Hawaiian Electric Industries’s dividend payout ratio is 55.11%.

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Several equities research analysts have recently weighed in on HE shares. Barclays PLC reissued an “underweight” rating and issued a $29.00 price objective (up from $27.00) on shares of Hawaiian Electric Industries in a report on Sunday, April 23rd. BidaskClub downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, May 26th.

Hawaiian Electric Industries Company 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).

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

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