Great Lakes Advisors LLC Purchases 62,415 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Great Lakes Advisors LLC boosted its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 68.9% during the second quarter, HoldingsChannel.com reports. The fund owned 153,025 shares of the utilities provider’s stock after buying an additional 62,415 shares during the quarter. Great Lakes Advisors LLC’s holdings in Hawaiian Electric Industries were worth $6,664,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HE. Signaturefd LLC grew its stake in shares of Hawaiian Electric Industries by 60.9% during the first quarter. Signaturefd LLC now owns 872 shares of the utilities provider’s stock worth $36,000 after buying an additional 330 shares during the last quarter. Personal Wealth Partners bought a new stake in shares of Hawaiian Electric Industries during the second quarter worth $48,000. Flagship Harbor Advisors LLC grew its stake in shares of Hawaiian Electric Industries by 153.7% during the second quarter. Flagship Harbor Advisors LLC now owns 1,139 shares of the utilities provider’s stock worth $49,000 after buying an additional 690 shares during the last quarter. Westside Investment Management Inc. bought a new stake in shares of Hawaiian Electric Industries during the second quarter worth $52,000. Finally, CWM LLC grew its stake in shares of Hawaiian Electric Industries by 40.0% during the second quarter. CWM LLC now owns 1,329 shares of the utilities provider’s stock worth $58,000 after buying an additional 380 shares during the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE HE traded down $0.35 during midday trading on Thursday, reaching $44.25. 1,990 shares of the company were exchanged, compared to its average volume of 382,036. The stock’s 50-day moving average price is $44.45 and its 200-day moving average price is $41.74. The stock has a market cap of $4.86 billion, a P/E ratio of 24.08, a PEG ratio of 4.18 and a beta of 0.23. Hawaiian Electric Industries, Inc. has a one year low of $34.78 and a one year high of $45.19. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.96.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, August 2nd. The utilities provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). The company had revenue of $715.49 million for the quarter, compared to the consensus estimate of $592.84 million. Hawaiian Electric Industries had a return on equity of 9.47% and a net margin of 7.07%. During the same period in the previous year, the firm posted $0.42 EPS. On average, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.92 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 22nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, August 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.89%. Hawaiian Electric Industries’s payout ratio is presently 69.19%.

In related news, Director Jeffrey N. Watanabe sold 5,700 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $44.21, for a total value of $251,997.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.94% of the company’s stock.

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $37.00 to $38.00 in a research note on Friday, August 9th. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 target price on the stock. in a research note on Wednesday, May 29th.

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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