Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP grew its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 23.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,496 shares of the utilities provider’s stock after purchasing an additional 15,223 shares during the quarter. Holocene Advisors LP’s holdings in Hawaiian Electric Industries were worth $3,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC boosted its position in Hawaiian Electric Industries by 1,333.3% during the first quarter. Lazard Asset Management LLC now owns 731 shares of the utilities provider’s stock worth $32,000 after acquiring an additional 680 shares during the last quarter. Tompkins Financial Corp acquired a new position in Hawaiian Electric Industries in the 4th quarter valued at about $42,000. Captrust Financial Advisors boosted its holdings in Hawaiian Electric Industries by 156.0% in the 4th quarter. Captrust Financial Advisors now owns 1,331 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 811 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in Hawaiian Electric Industries by 24.2% in the 1st quarter. Westside Investment Management Inc. now owns 1,540 shares of the utilities provider’s stock valued at $68,000 after purchasing an additional 300 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at about $71,000. Institutional investors and hedge funds own 53.32% of the company’s stock.

In related news, CFO Gregory C. Hazelton sold 3,400 shares of the company’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $44.80, for a total transaction of $152,320.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.83% of the stock is owned by corporate insiders.

Several equities analysts have weighed in on the stock. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “underperform” rating to an “in-line” rating and set a $45.00 target price on the stock in a report on Monday, May 17th. Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $34.00 to $40.00 and gave the company an “underweight” rating in a report on Monday, May 10th. Finally, Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Wednesday, March 24th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $39.20.

Hawaiian Electric Industries stock opened at $42.66 on Thursday. The company has a 50 day moving average of $43.11. The stock has a market cap of $4.66 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 2.99 and a beta of 0.23. Hawaiian Electric Industries, Inc. has a 1 year low of $31.83 and a 1 year high of $45.97. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.96.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, May 7th. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.23. The business had revenue of $642.95 million for the quarter. Hawaiian Electric Industries had a net margin of 9.06% and a return on equity of 9.63%. As a group, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.97 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 10th. Investors of record on Thursday, May 20th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Wednesday, May 19th. Hawaiian Electric Industries’s payout ratio is currently 75.14%.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.

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

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