Bank of New York Mellon Corp boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 26.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,874,592 shares of the utilities provider’s stock after buying an additional 596,759 shares during the period. Bank of New York Mellon Corp owned approximately 2.64% of Hawaiian Electric Industries worth $95,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. increased its stake in shares of Hawaiian Electric Industries by 25.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,057 shares of the utilities provider’s stock valued at $101,000 after buying an additional 628 shares during the last quarter. NTV Asset Management LLC acquired a new stake in shares of Hawaiian Electric Industries during the first quarter valued at approximately $209,000. State of Alaska Department of Revenue increased its stake in shares of Hawaiian Electric Industries by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 6,823 shares of the utilities provider’s stock valued at $227,000 after buying an additional 306 shares during the last quarter. Parallel Advisors LLC acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $236,000. Finally, Evanson Asset Management LLC purchased a new position in Hawaiian Electric Industries during the first quarter worth about $256,000. 48.87% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

Hawaiian Electric Industries, Inc. (NYSE HE) traded up 0.24% during trading on Friday, reaching $33.59. The company had a trading volume of 1,009,939 shares. Hawaiian Electric Industries, Inc. has a one year low of $28.31 and a one year high of $34.98. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 14.62 and a beta of 0.46. The company has a 50-day moving average price of $33.13 and a 200 day moving average price of $33.13.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 5th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Hawaiian Electric Industries had a net margin of 10.41% and a return on equity of 9.35%. The firm had revenue of $591.56 million during the quarter, compared to analyst estimates of $555.45 million. Analysts expect that Hawaiian Electric Industries, Inc. will post $1.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Wednesday, May 24th were paid a $0.31 dividend. The ex-dividend date was Monday, May 22nd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.69%. Hawaiian Electric Industries’s dividend payout ratio is presently 53.91%.

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A number of equities analysts have issued reports on the company. Evercore ISI cut Hawaiian Electric Industries to an “underperform” rating in a report on Monday, March 6th. Barclays PLC restated an “underweight” rating and issued a $29.00 price objective (up previously from $27.00) on shares of Hawaiian Electric Industries in a report on Sunday, April 23rd. Finally, Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, May 26th.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc 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 subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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