Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,926 shares of the utilities provider’s stock after purchasing an additional 4,750 shares during the quarter. Macquarie Group Ltd. owned 0.05% of Hawaiian Electric Industries worth $2,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Hawaiian Electric Industries by 0.6% in the first quarter. Vanguard Group Inc. now owns 11,527,217 shares of the utilities provider’s stock worth $487,716,000 after acquiring an additional 70,591 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Hawaiian Electric Industries by 0.3% in the third quarter. Nordea Investment Management AB now owns 4,185,221 shares of the utilities provider’s stock worth $148,533,000 after acquiring an additional 14,535 shares in the last quarter. State Street Corp lifted its stake in shares of Hawaiian Electric Industries by 0.5% in the second quarter. State Street Corp now owns 3,738,067 shares of the utilities provider’s stock worth $152,887,000 after acquiring an additional 19,379 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Hawaiian Electric Industries by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,233,489 shares of the utilities provider’s stock worth $42,756,000 after acquiring an additional 35,637 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Hawaiian Electric Industries by 2.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,918 shares of the utilities provider’s stock worth $51,023,000 after acquiring an additional 31,283 shares in the last quarter. Institutional investors and hedge funds own 52.99% of the company’s stock.

Insider Activity

In other news, Director Keith P. Russell sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $39.21, for a total transaction of $392,100.00. Following the completion of the transaction, the director now directly owns 23,447 shares of the company’s stock, valued at $919,356.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Evercore ISI set a $36.00 price target on Hawaiian Electric Industries in a research note on Thursday, November 24th. Guggenheim lowered their price objective on Hawaiian Electric Industries from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, February 15th. Finally, Wells Fargo & Company boosted their price objective on Hawaiian Electric Industries from $39.00 to $42.00 and gave the company an “underweight” rating in a report on Tuesday, January 10th.

Hawaiian Electric Industries Stock Down 0.9 %

Shares of Hawaiian Electric Industries stock opened at $39.09 on Friday. The firm has a market cap of $4.28 billion, a P/E ratio of 17.77, a P/E/G ratio of 5.65 and a beta of 0.41. The business has a 50-day moving average price of $41.63 and a 200 day moving average price of $39.69. Hawaiian Electric Industries, Inc. has a fifty-two week low of $33.18 and a fifty-two week high of $44.72. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.10.

Hawaiian Electric Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Thursday, February 23rd will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, February 22nd. This is a positive change from Hawaiian Electric Industries’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 3.68%. Hawaiian Electric Industries’s dividend payout ratio is 65.45%.

Hawaiian Electric Industries Company Profile

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Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.