Man Group plc Acquires 278,788 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

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Man Group plc boosted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 85.8% in the third quarter, Holdings Channel reports. The institutional investor owned 603,754 shares of the utilities provider’s stock after buying an additional 278,788 shares during the period. Man Group plc’s holdings in Hawaiian Electric Industries were worth $27,537,000 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 stock. Personal Wealth Partners bought a new position in Hawaiian Electric Industries during the 2nd quarter worth approximately $48,000. Flagship Harbor Advisors LLC raised its holdings in Hawaiian Electric Industries by 153.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,139 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 690 shares during the last quarter. Westside Investment Management Inc. bought a new position in Hawaiian Electric Industries during the 2nd quarter worth approximately $52,000. CWM LLC raised its holdings in Hawaiian Electric Industries by 40.0% during the 2nd quarter. CWM LLC now owns 1,329 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 380 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Hawaiian Electric Industries during the 2nd quarter worth approximately $62,000. Institutional investors and hedge funds own 55.09% of the company’s stock.

HE has been the subject of several analyst reports. ValuEngine lowered shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered shares of Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $37.00 to $38.00 in a report on Friday, August 9th. Zacks Investment Research upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $47.00 price target for the company in a report on Wednesday, October 9th. Finally, UBS Group raised their price target on shares of Hawaiian Electric Industries from $35.00 to $37.00 and gave the stock a “sell” rating in a report on Friday, September 13th.

Hawaiian Electric Industries stock opened at $43.67 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.08 and a current ratio of 0.08. Hawaiian Electric Industries, Inc. has a 52-week low of $35.06 and a 52-week high of $45.96. The firm has a 50 day moving average price of $44.38 and a two-hundred day moving average price of $44.00. The firm has a market cap of $4.76 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 5.50 and a beta of 0.19.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. The firm had revenue of $771.54 million during the quarter, compared to analyst estimates of $814.36 million. Hawaiian Electric Industries had a net margin of 6.98% and a return on equity of 9.23%. The company’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 EPS. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.28 annualized dividend and a dividend yield of 2.93%. Hawaiian Electric Industries’s dividend payout ratio is currently 69.19%.

In other news, Director Micah A. Kane sold 2,800 shares of Hawaiian Electric Industries stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $44.60, for a total value of $124,880.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.94% of the company’s stock.

Hawaiian Electric Industries Company 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, municipal waste, and other bio fuels.

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

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