Hawaiian Electric Industries, Inc. (NYSE:HE) Holdings Boosted by Swiss National Bank

27 May 2020, 11:36 by Kim Johansen

Swiss National Bank boosted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,300 shares of the utilities provider’s stock after acquiring an additional 2,600 shares during the period. Swiss National Bank owned about 0.19% of Hawaiian Electric Industries worth $9,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC raised its holdings in shares of Hawaiian Electric Industries by 96.6% during the first quarter. FMR LLC now owns 567,340 shares of the utilities provider’s stock valued at $23,131,000 after buying an additional 278,694 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in shares of Hawaiian Electric Industries by 3.6% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 60,842 shares of the utilities provider’s stock valued at $2,481,000 after buying an additional 2,136 shares during the last quarter. Strs Ohio raised its holdings in shares of Hawaiian Electric Industries by 132.0% during the fourth quarter. Strs Ohio now owns 29,097 shares of the utilities provider’s stock valued at $1,363,000 after buying an additional 16,557 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Hawaiian Electric Industries by 1.3% during the fourth quarter. State of Michigan Retirement System now owns 32,040 shares of the utilities provider’s stock valued at $1,501,000 after buying an additional 400 shares during the last quarter. Finally, New York State Teachers Retirement System raised its holdings in shares of Hawaiian Electric Industries by 10.2% during the fourth quarter. New York State Teachers Retirement System now owns 175,448 shares of the utilities provider’s stock valued at $8,221,000 after buying an additional 16,300 shares during the last quarter. 54.72% of the stock is currently owned by hedge funds and other institutional investors.

NYSE HE opened at $38.22 on Wednesday. Hawaiian Electric Industries, Inc. has a 12 month low of $33.51 and a 12 month high of $55.15. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $4.07 billion, a PE ratio of 20.22, a P/E/G ratio of 13.28 and a beta of 0.18. The company’s 50 day simple moving average is $39.61 and its 200 day simple moving average is $44.09.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.14). Hawaiian Electric Industries had a net margin of 7.16% and a return on equity of 9.19%. The company had revenue of $677.20 million for the quarter, compared to analyst estimates of $686.36 million. During the same quarter in the prior year, the business earned $0.42 EPS. Hawaiian Electric Industries’s revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 22nd will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.45%. Hawaiian Electric Industries’s dividend payout ratio is presently 66.33%.

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut Hawaiian Electric Industries to a “hold” rating and set a $85.00 price target on the stock. in a report on Tuesday, March 31st. UBS Group cut their price target on Hawaiian Electric Industries from $37.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, May 7th. Finally, Wells Fargo & Co cut their price target on Hawaiian Electric Industries from $46.00 to $40.00 and set an “underweight” rating on the stock in a report on Tuesday, April 14th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $47.67.

In other Hawaiian Electric Industries news, CEO Richard F. Wacker sold 40,000 shares of Hawaiian Electric Industries stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $46.39, for a total value of $1,855,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Holdings L.P. Valueact purchased 755,600 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was acquired at an average price of $41.94 per share, for a total transaction of $31,689,864.00. The disclosure for this purchase can be found here. 2.35% of the stock is owned by company insiders.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.