Raymond James Financial Services Advisors Inc. Sells 1,540 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Raymond James Financial Services Advisors Inc. reduced its position in Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) by 2.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,110 shares of the utilities provider’s stock after selling 1,540 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hawaiian Electric Industries were worth $1,841,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Hawaiian Electric Industries by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 11,527,217 shares of the utilities provider’s stock worth $487,716,000 after purchasing an additional 70,591 shares in the last quarter. Nordea Investment Management AB boosted its stake in Hawaiian Electric Industries by 0.3% in the 3rd quarter. Nordea Investment Management AB now owns 4,185,221 shares of the utilities provider’s stock worth $148,533,000 after purchasing an additional 14,535 shares in the last quarter. State Street Corp boosted its stake in Hawaiian Electric Industries by 0.5% in the 2nd quarter. State Street Corp now owns 3,738,067 shares of the utilities provider’s stock worth $152,887,000 after purchasing an additional 19,379 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hawaiian Electric Industries by 2.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,918 shares of the utilities provider’s stock worth $51,023,000 after purchasing an additional 31,283 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Hawaiian Electric Industries by 10.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,178,517 shares of the utilities provider’s stock worth $49,864,000 after purchasing an additional 114,232 shares in the last quarter. 52.99% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $41.89 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $4.59 billion, a price-to-earnings ratio of 19.22, a price-to-earnings-growth ratio of 7.34 and a beta of 0.39. The company has a 50 day moving average price of $40.95 and a 200-day moving average price of $39.69. Hawaiian Electric Industries, Inc. has a 1-year low of $33.18 and a 1-year high of $44.72.

Hawaiian Electric Industries (NYSE:HEGet Rating) last posted its earnings results on Monday, November 7th. The utilities provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $1.04 billion during the quarter. Hawaiian Electric Industries had a net margin of 6.88% and a return on equity of 10.57%. Equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 2.13 EPS for the current year.

Hawaiian Electric Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Tuesday, November 22nd were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, November 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 64.22%.

Analyst Upgrades and Downgrades

HE has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Hawaiian Electric Industries from $39.00 to $42.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 10th. Guggenheim reduced their price target on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a research report on Monday, October 24th. StockNews.com started coverage on shares of Hawaiian Electric Industries in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Evercore ISI set a $36.00 price target on shares of Hawaiian Electric Industries in a research report on Thursday, November 24th.

About Hawaiian Electric Industries

(Get Rating)

Hawaiian Electric Industries, Inc, together with 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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