Bank of New York Mellon Corp Sells 13,208 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Posted by on Mar 11th, 2023

Bank of New York Mellon Corp lowered its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,564,309 shares of the utilities provider’s stock after selling 13,208 shares during the quarter. Bank of New York Mellon Corp owned about 1.43% of Hawaiian Electric Industries worth $54,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of HE. Quadrant Capital Group LLC increased its holdings in Hawaiian Electric Industries by 414.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 622 shares of the utilities provider’s stock valued at $25,000 after buying an additional 501 shares during the period. WASHINGTON TRUST Co bought a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $26,000. Lazard Asset Management LLC boosted its stake in shares of Hawaiian Electric Industries by 1,468.6% in the 2nd quarter. Lazard Asset Management LLC now owns 800 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 749 shares in the last quarter. Ronald Blue Trust Inc. boosted its stake in shares of Hawaiian Electric Industries by 212.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 779 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 530 shares in the last quarter. Finally, BerganKDV Wealth Management LLC boosted its stake in shares of Hawaiian Electric Industries by 60.0% in the 3rd quarter. BerganKDV Wealth Management LLC now owns 1,008 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 52.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HE. Evercore ISI set a $36.00 target price on shares of Hawaiian Electric Industries in a research note on Thursday, November 24th. Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $39.00 to $42.00 and gave the company an “underweight” rating in a research note on Tuesday, January 10th. Finally, Guggenheim reduced their target price on shares of Hawaiian Electric Industries from $43.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 15th.

Insider Buying and Selling

In related news, Director Keith P. Russell sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $39.21, for a total transaction of $392,100.00. Following the transaction, the director now owns 23,447 shares in the company, valued at approximately $919,356.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.86% of the stock is owned by corporate insiders.

Hawaiian Electric Industries Stock Down 4.5 %

Shares of NYSE HE opened at $37.33 on Friday. The firm’s 50-day simple moving average is $41.54 and its 200 day simple moving average is $39.66. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 5.72 and a beta of 0.41. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.10. Hawaiian Electric Industries, Inc. has a 12-month low of $33.18 and a 12-month high of $44.72.

Hawaiian Electric Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Thursday, February 23rd were given a dividend of $0.36 per share. This is an increase from Hawaiian Electric Industries’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, February 22nd. This represents a $1.44 annualized dividend and a yield of 3.86%. Hawaiian Electric Industries’s dividend payout ratio is 65.45%.

Hawaiian Electric Industries Company Profile

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Hawaiian Electric Industries, Inc is a holding company, which engages in power, financial, and renewable and sustainable infrastructure investment businesses. It operates through the following segments: Electric Utility, Bank, and Other. The Electric Utility segment offers essential electric service on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.

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

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