Mutual of America Capital Management LLC increased its position in Hawaiian Electric Industries Inc. (NYSE:HE) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,526 shares of the company’s stock after buying an additional 3,244 shares during the period. Mutual of America Capital Management LLC owned about 0.08% of Hawaiian Electric Industries worth $2,493,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of HE. Pacad Investment Ltd. acquired a new position in shares of Hawaiian Electric Industries during the second quarter worth approximately $105,000. State of Alaska Department of Revenue purchased a new position in Hawaiian Electric Industries during the third quarter worth about $181,000. Cubist Systematic Strategies LLC purchased a new position in Hawaiian Electric Industries during the second quarter worth about $188,000. Point72 Asia Hong Kong Ltd purchased a new position in Hawaiian Electric Industries during the second quarter worth about $190,000. Finally, Independent Portfolio Consultants Inc. purchased a new position in Hawaiian Electric Industries during the third quarter worth about $191,000. 45.71% of the stock is owned by institutional investors.
Hawaiian Electric Industries Inc. (NYSE:HE) opened at 30.71 on Friday. The stock has a market cap of $3.33 billion, a PE ratio of 13.53 and a beta of 0.25. The firm has a 50 day moving average of $29.27 and a 200-day moving average of $31.00. Hawaiian Electric Industries Inc. has a 52-week low of $27.30 and a 52-week high of $34.98.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Wednesday, November 9th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. Hawaiian Electric Industries had a net margin of 10.38% and a return on equity of 9.64%. The firm earned $646.05 million during the quarter, compared to analyst estimates of $728.12 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. Hawaiian Electric Industries’s revenue for the quarter was down 9.9% on a year-over-year basis. Equities analysts anticipate that Hawaiian Electric Industries Inc. will post $1.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 22nd will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.04%. Hawaiian Electric Industries’s dividend payout ratio is 54.63%.
Separately, Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Tuesday, November 15th.
In related news, Director Barry K. Taniguchi sold 14,942 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $30.29, for a total transaction of $452,593.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.86% of the company’s stock.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc (HEI) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).