Swiss National Bank Purchases 5,900 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Swiss National Bank raised its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.1% during the first quarter, HoldingsChannel.com reports. The fund owned 198,400 shares of the utilities provider’s stock after acquiring an additional 5,900 shares during the period. Swiss National Bank’s holdings in Hawaiian Electric Industries were worth $8,089,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Wellington Shields Capital Management LLC purchased a new stake in Hawaiian Electric Industries in the first quarter worth about $2,116,000. Envestnet Asset Management Inc. increased its position in Hawaiian Electric Industries by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 10,476 shares of the utilities provider’s stock worth $427,000 after buying an additional 458 shares in the last quarter. Wellington Shields & Co. LLC purchased a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $2,410,000. PNC Financial Services Group Inc. grew its position in shares of Hawaiian Electric Industries by 12.2% during the first quarter. PNC Financial Services Group Inc. now owns 24,021 shares of the utilities provider’s stock worth $981,000 after purchasing an additional 2,613 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Hawaiian Electric Industries by 3.1% during the first quarter. BlackRock Inc. now owns 10,144,712 shares of the utilities provider’s stock worth $413,600,000 after purchasing an additional 305,064 shares in the last quarter. 52.97% of the stock is currently owned by institutional investors.

NYSE:HE opened at $43.45 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.07 and a quick ratio of 0.07. Hawaiian Electric Industries, Inc. has a 12-month low of $32.59 and a 12-month high of $43.61. The stock has a market cap of $4.73 billion, a P/E ratio of 23.49, a price-to-earnings-growth ratio of 4.00 and a beta of 0.24.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Tuesday, May 7th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.04. Hawaiian Electric Industries had a return on equity of 9.75% and a net margin of 7.27%. The firm had revenue of $661.62 million during the quarter, compared to analysts’ expectations of $563.95 million. During the same quarter last year, the business posted $0.37 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.94 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Thursday, May 23rd were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, May 22nd. Hawaiian Electric Industries’s dividend payout ratio is currently 69.19%.

Separately, Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Monday, March 4th.

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Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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

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