Prudential Financial Inc. decreased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 495,727 shares of the utilities provider’s stock after selling 5,950 shares during the period. Prudential Financial Inc. owned about 0.46% of Hawaiian Electric Industries worth $16,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in HE. BlackRock Inc. lifted its position in shares of Hawaiian Electric Industries by 6,287.3% during the 1st quarter. BlackRock Inc. now owns 9,095,425 shares of the utilities provider’s stock worth $302,969,000 after purchasing an additional 8,953,026 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hawaiian Electric Industries by 26.2% during the 1st quarter. Bank of New York Mellon Corp now owns 2,874,592 shares of the utilities provider’s stock worth $95,753,000 after purchasing an additional 596,759 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Hawaiian Electric Industries by 30.5% during the 2nd quarter. First Trust Advisors LP now owns 2,430,078 shares of the utilities provider’s stock worth $78,686,000 after purchasing an additional 568,063 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Hawaiian Electric Industries by 631.8% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 591,407 shares of the utilities provider’s stock worth $19,700,000 after purchasing an additional 510,595 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Hawaiian Electric Industries by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 9,685,627 shares of the utilities provider’s stock worth $322,628,000 after purchasing an additional 489,152 shares during the last quarter. 48.60% of the stock is owned by institutional investors and hedge funds.

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) opened at 34.13 on Friday. Hawaiian Electric Industries, Inc. has a 52-week low of $28.31 and a 52-week high of $34.13. The stock has a market capitalization of $3.71 billion, a PE ratio of 15.20 and a beta of 0.47. The stock’s 50 day moving average is $33.19 and its 200 day moving average is $33.11.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.03. The firm had revenue of $556.90 million for the quarter, compared to analyst estimates of $568 million. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. Hawaiian Electric Industries’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 earnings per share. Equities research analysts expect that Hawaiian Electric Industries, Inc. will post $1.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 23rd will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Monday, August 21st. Hawaiian Electric Industries’s payout ratio is 55.11%.

WARNING: “Prudential Financial Inc. Reduces Holdings in Hawaiian Electric Industries, Inc. (HE)” was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/09/prudential-financial-inc-reduces-holdings-in-hawaiian-electric-industries-inc-he.html.

HE has been the subject of several recent analyst reports. BidaskClub cut shares of Hawaiian Electric Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 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).

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

Receive News & Stock Ratings for Hawaiian Electric Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hawaiian Electric Industries Inc. and related stocks with our FREE daily email newsletter.