ING Groep NV Buys Shares of 13,230 Hawaiian Electric Industries, Inc. (HE)

ING Groep NV bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 13,230 shares of the utilities provider’s stock, valued at approximately $428,000.

Several other hedge funds also recently modified their holdings of the stock. LS Investment Advisors LLC raised its stake in shares of Hawaiian Electric Industries by 0.5% in the first quarter. LS Investment Advisors LLC now owns 7,387 shares of the utilities provider’s stock worth $246,000 after buying an additional 38 shares in the last quarter. IFP Advisors Inc raised its stake in Hawaiian Electric Industries by 0.5% in the first quarter. IFP Advisors Inc now owns 9,278 shares of the utilities provider’s stock worth $309,000 after buying an additional 44 shares during the period. Capstone Asset Management Co. raised its stake in Hawaiian Electric Industries by 0.8% in the first quarter. Capstone Asset Management Co. now owns 10,215 shares of the utilities provider’s stock worth $340,000 after buying an additional 80 shares during the period. World Asset Management Inc raised its stake in Hawaiian Electric Industries by 2.0% in the first quarter. World Asset Management Inc now owns 6,723 shares of the utilities provider’s stock worth $224,000 after buying an additional 135 shares during the period. Finally, Private Advisor Group LLC raised its stake in Hawaiian Electric Industries by 2.5% in the first quarter. Private Advisor Group LLC now owns 8,284 shares of the utilities provider’s stock worth $280,000 after buying an additional 200 shares during the period. 48.55% of the stock is owned by hedge funds and other institutional investors.

Shares of Hawaiian Electric Industries, Inc. (NYSE HE) opened at 33.06 on Friday. The company has a 50-day moving average of $32.65 and a 200-day moving average of $33.10. Hawaiian Electric Industries, Inc. has a 1-year low of $28.31 and a 1-year high of $34.08. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 14.72 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.03. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. The firm had revenue of $556.90 million for the quarter, compared to analysts’ expectations of $568 million. During the same quarter last year, the business earned $0.43 earnings per share. The business’s revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that Hawaiian Electric Industries, Inc. will post $1.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date is Monday, August 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 55.11%.

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A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Hawaiian Electric Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $29.00 price objective (up 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).

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

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