Ameritas Advisory Services LLC increased its stake in Hawaiian Electric Industries (NYSE: HE – Get Rating) by 39.7% in the fourth quarter, according to the company’s latest 13F filing with the Securities and Exchange Commission. rice field. The company owns 14,399 shares in the utility company after acquiring another 4,090 shares during the same period. Ameritas Advisory Services LLC’s holdings of Hawaiian Electric Industries were worth $603,000 at the end of the most recent reporting period.
Many other hedge funds have also changed their stakes in the business. State Street Corporation increased its stake in Hawaiian Electric Industries by 17.6% in the first quarter. State Street Corporation acquired an additional 557,341 shares during the period and now owns 3,718,688 shares of the utility company worth $157,338,000. PATRIZIA Pty Ltd purchased new shares in Hawaiian Electric Industries in the fourth quarter for a value of approximately $11,564,000. Vanguard Group increased its stake in Hawaiian Electric Industries by 2.1% in the third quarter. Vanguard Group Inc. acquired an additional 245,066 shares during the period and now owns 12,016,050 shares of the utility company, valued at $416,476,000. Allianz Asset Management GmbH increased its stake in Hawaiian Electric Industries by 82.7% in the first quarter. Allianz Asset Management GmbH acquired an additional 239,242 shares during the period and now owns 528,645 shares of the utility company, valued at $22,367,000. Finally, Balyasny Asset Management LLC purchased new shares in Hawaiian Electric Industries in the third quarter for a value of approximately $7,703,000. 52.99% of the shares are owned by hedge funds and other institutional investors.
In related news, director Keith P. Russell sold 10,000 shares in a transaction on Wednesday, March 8. The shares sold at an average price of $39.21, giving him a total transaction value of $392,100.00. After the sale, the directors now own 23,447 shares of the company, valued at $919,356.87. The deal was disclosed in his SEC filings, which are available at this hyperlink. 0.86% of the shares are owned by corporate insiders.
Analysts set new price target
Several brokerage firms have recently issued reports on HE. Guggenheim lowered its price target on Hawaiian Electric Industries from $43.00 to $42.00 and set the company’s rating to Neutral in a research note on Wednesday, Feb. 15. StockNews.com began reporting on Hawaiian Electric Industries stock in a research note on Thursday, May 18. They set a “Hold” rating on the company.
Stock price of Hawaiian Electric Industries
NYSE:HE opened at $36.01 on Monday. The company has a debt to equity ratio of 1.11, a current ratio of 0.08 and a quick ratio of 0.08. Hawaiian Electric Industries hit a one-year low of $33.18 and a one-year high of $44.01. The company’s 50-day moving average is $38.03 and its 200-day moving average is $39.91. The stock has a market cap of $3.95 billion, a P/E ratio of 17.40 times, a PEG ratio of 3.70 times, and a beta of 0.41 times.
Hawaiian Electric Industries Announces Dividend
The company also recently announced a quarterly dividend to be paid on Friday, June 9. Investors who registered on Friday, May 19, will be paid a dividend of $0.36 per share. The ex-dividend date for this dividend will be May 18 (Thursday). This equates to an annual dividend of $1.44 and a yield of 4.00%. Hawaiian Electric Industries has a dividend payout ratio (DPR) of 69.57%.
Overview of Hawaiian Electric Industries
Hawaiian Electric Industries, Inc is a holding company engaged in power, financial, renewable and sustainable infrastructure investment businesses. It is operated by power companies, banks and other departments. The Power Business segment provides critical power services on Oahu, Hawaii, Maui, Lanai and Molokai.
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