Mirae Asset Global Investments Co. Ltd. Buys New Position in Hawaiian Electric Industries, Inc. (HE)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,601 shares of the utilities provider’s stock, valued at approximately $571,000.

A number of other large investors have also added to or reduced their stakes in HE. Vanguard Group Inc. boosted its position in Hawaiian Electric Industries by 2.1% during the third quarter. Vanguard Group Inc. now owns 10,794,377 shares of the utilities provider’s stock worth $384,172,000 after purchasing an additional 220,546 shares during the period. Vanguard Group Inc lifted its holdings in shares of Hawaiian Electric Industries by 2.1% during the third quarter. Vanguard Group Inc now owns 10,794,377 shares of the utilities provider’s stock worth $384,172,000 after buying an additional 220,546 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Hawaiian Electric Industries by 4.0% during the fourth quarter. BlackRock Inc. now owns 9,839,648 shares of the utilities provider’s stock worth $360,328,000 after buying an additional 375,533 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Hawaiian Electric Industries by 3,562.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,567,995 shares of the utilities provider’s stock worth $43,000 after buying an additional 1,525,177 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Hawaiian Electric Industries by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 1,565,307 shares of the utilities provider’s stock worth $55,709,000 after buying an additional 26,641 shares during the last quarter. 51.90% of the stock is currently owned by institutional investors.

In related news, Director James K. Scott sold 5,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $38.85, for a total value of $213,675.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.87% of the company’s stock.

A number of brokerages have recently commented on HE. Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday. Bank of America lowered Hawaiian Electric Industries from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $35.00 to $34.00 in a report on Thursday, November 15th.

Shares of NYSE HE opened at $40.26 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $4.34 billion, a P/E ratio of 21.76, a PEG ratio of 3.29 and a beta of 0.26. Hawaiian Electric Industries, Inc. has a one year low of $32.59 and a one year high of $40.41.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, February 15th. The utilities provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.02). The firm had revenue of $761.65 million during the quarter, compared to analyst estimates of $524.89 million. Hawaiian Electric Industries had a net margin of 7.12% and a return on equity of 9.60%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.95 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Tuesday, February 26th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Hawaiian Electric Industries’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Monday, February 25th. Hawaiian Electric Industries’s dividend payout ratio is presently 69.19%.

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Hawaiian Electric Industries Profile

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, sugarcane waste, municipal waste, and other bio fuels.

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

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