Legal & General Group Plc grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,390 shares of the utilities provider’s stock after buying an additional 23,546 shares during the period. Legal & General Group Plc owned 0.26% of Hawaiian Electric Industries worth $9,549,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in HE. Tortoise Investment Management LLC purchased a new stake in shares of Hawaiian Electric Industries during the second quarter valued at approximately $187,000. Private Advisor Group LLC purchased a new stake in shares of Hawaiian Electric Industries during the second quarter valued at approximately $311,000. Mutual of America Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries by 4.8% during the second quarter. Mutual of America Capital Management LLC now owns 93,639 shares of the utilities provider’s stock valued at $3,212,000 after purchasing an additional 4,297 shares during the period. Martingale Asset Management L P boosted its stake in shares of Hawaiian Electric Industries by 3.6% during the second quarter. Martingale Asset Management L P now owns 225,332 shares of the utilities provider’s stock valued at $7,730,000 after purchasing an additional 7,796 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Hawaiian Electric Industries by 6.2% during the second quarter. American Century Companies Inc. now owns 296,445 shares of the utilities provider’s stock valued at $10,168,000 after purchasing an additional 17,384 shares during the period. Hedge funds and other institutional investors own 50.80% of the company’s stock.
Shares of Hawaiian Electric Industries stock opened at $35.41 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.85. The company has a market cap of $3.84 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 2.83 and a beta of 0.28. Hawaiian Electric Industries, Inc. has a 52 week low of $31.72 and a 52 week high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 3rd. The utilities provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $685.28 million during the quarter, compared to the consensus estimate of $637.52 million. Hawaiian Electric Industries had a return on equity of 9.28% and a net margin of 6.78%. equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.87 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 10th. Investors of record on Tuesday, August 21st were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, August 20th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.50%. Hawaiian Electric Industries’s dividend payout ratio is presently 75.15%.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 29th. Bank of America upgraded Hawaiian Electric Industries from an “underperform” rating to a “neutral” rating in a report on Monday, July 2nd.
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, sugarcane waste, municipal waste, and other bio fuels.
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