Dimensional Fund Advisors LP grew its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,014,372 shares of the utilities provider’s stock after purchasing an additional 29,468 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Hawaiian Electric Industries were worth $33,851,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Hawaiian Electric Industries during the 2nd quarter worth $123,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hawaiian Electric Industries by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after buying an additional 297 shares during the period. TLP Group LLC raised its stake in Hawaiian Electric Industries by 818.4% during the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock worth $175,000 after buying an additional 4,804 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new stake in Hawaiian Electric Industries during the 2nd quarter worth $201,000. Finally, Shelton Capital Management acquired a new stake in Hawaiian Electric Industries during the 2nd quarter worth $263,000. 49.23% of the stock is currently owned by institutional investors.
Several brokerages recently commented on HE. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Bank of America began coverage on Hawaiian Electric Industries in a research note on Tuesday, October 24th. They set an “underperform” rating and a $34.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, October 12th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Hawaiian Electric Industries presently has a consensus rating of “Hold” and an average target price of $32.33.
Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $673.19 million for the quarter, compared to the consensus estimate of $648.93 million. Hawaiian Electric Industries had a return on equity of 8.64% and a net margin of 7.14%. Hawaiian Electric Industries’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $0.58 EPS. equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.64 earnings per share for the current year.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.
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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).
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