UBS Group AG cut its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 6.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,614 shares of the utilities provider’s stock after selling 4,881 shares during the period. UBS Group AG owned about 0.06% of Hawaiian Electric Industries worth $2,219,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in HE. Envestnet Asset Management Inc. boosted its position in 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 worth $101,000 after buying an additional 628 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Hawaiian Electric Industries by 317.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 70,840 shares of the utilities provider’s stock worth $2,342,000 after buying an additional 53,890 shares in the last quarter. Norges Bank bought a new position in Hawaiian Electric Industries during the fourth quarter worth approximately $50,144,000. Teachers Advisors LLC boosted its position in Hawaiian Electric Industries by 4.6% in the fourth quarter. Teachers Advisors LLC now owns 118,518 shares of the utilities provider’s stock worth $3,919,000 after buying an additional 5,258 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in Hawaiian Electric Industries by 2.8% in the fourth quarter. Macquarie Group Ltd. now owns 21,800 shares of the utilities provider’s stock worth $721,000 after buying an additional 600 shares in the last quarter. 48.29% of the stock is owned by institutional investors and hedge funds.

Shares of Hawaiian Electric Industries, Inc. (HE) remained flat at $32.98 during midday trading on Friday. 313,643 shares of the company’s stock traded hands. The company has a market capitalization of $3.59 billion, a P/E ratio of 14.36 and a beta of 0.46. The stock’s 50-day moving average is $32.71 and its 200-day moving average is $33.10. Hawaiian Electric Industries, Inc. has a one year low of $28.31 and a one year high of $34.08.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.03. Hawaiian Electric Industries had a net margin of 10.41% and a return on equity of 9.35%. The business had revenue of $556.90 million during the quarter, compared to analysts’ expectations of $568 million. During the same period last year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post $1.64 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 23rd will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, August 21st. Hawaiian Electric Industries’s dividend payout ratio (DPR) is presently 53.91%.

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A number of equities analysts have commented on HE shares. Barclays PLC reissued an “underweight” rating and issued a $29.00 price target (up previously from $27.00) on shares of Hawaiian Electric Industries in a research note on Sunday, April 23rd. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, May 26th. Finally, BidaskClub cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th.

Hawaiian Electric Industries Company Profile

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).

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

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