On September 22, 2023, it was reported that AE Wealth Management LLC had significantly increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the second quarter. According to the disclosure made with the Securities and Exchange Commission, AE Wealth Management LLC acquired an additional 80,314 shares of the utilities provider’s stock, resulting in a 682.5% increase in its position. As of its most recent filing with the SEC, the fund now owns 92,082 shares of Hawaiian Electric Industries with a total value of $3,333,000.
Hawaiian Electric Industries operates as a leading utilities provider and has attracted the attention of investment firms like AE Wealth Management LLC. This substantial increase in AE Wealth Management LLC’s position indicates a strong belief in the potential growth and value proposition offered by Hawaiian Electric Industries.
In addition to the increased holdings announced by AE Wealth Management LLC, Hawaiian Electric Industries recently declared a quarterly dividend. Shareholders who were listed as of Friday, August 18th received a dividend payment of $0.36 per share on Friday, September 8th. With an annualized dividend of $1.44 per share and a dividend yield of 11.25%, Hawaiian Electric Industries offers an attractive payout to its shareholders.
The company’s current payout ratio stands at 68.90%. This ratio represents the proportion of earnings allocated towards dividends and indicates that Hawaiian Electric Industries is committed to distributing a significant portion of its profits back to shareholders.
Investors keeping track of Hawaiian Electric Industries will find these developments noteworthy as they provide insights into not only investor sentiment but also reflect positively on the company’s financial stability and potential future performance.
Overall, this report highlights AE Wealth Management LLC’s substantial increase in ownership stake in Hawaiian Electric Industries and sheds light on their confidence in the company’s prospects. Furthermore, the announcement of a quarterly dividend reinforces Hawaiian Electric Industries’ commitment to rewarding shareholders and marks another positive signal for discerning investors.
Hawaiian Electric Industries, Inc.
HE
Strong Buy
Updated on: 04/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Show Increased Interest in Hawaiian Electric Industries, but Uncertainty Remains
Institutional investors have shown increased interest in Hawaiian Electric Industries (HE), as indicated by their recent buying and selling of shares. Raymond James & Associates, for instance, has raised its stake in the company by 7.5% during the first quarter, now owning 15,301 shares valued at $647,000. American Century Companies Inc. also increased its stake by 17.8%, with 15,808 shares valued at $669,000 after buying an additional 2,388 shares. Similarly, Natixis Advisors L.P. purchased a new position in HE worth $465,000 during the first quarter.
Bank of Montreal Can lifted its stake by 3.0% and now owns 13,673 shares valued at $584,000 after acquiring an additional 403 shares. Additionally, Healthcare of Ontario Pension Plan Trust Fund also bought a new position in HE worth $757,000 during the same period. Overall, institutional investors hold approximately 53.64% of the company’s stock.
Several research firms have recently commented on HE’s performance. StockNews.com gave a “hold” rating on the stock in their report on August 17th. Wells Fargo & Company upgraded HE from an “underweight” rating to an “equal weight” rating but decreased their price target from $25.00 to $8.00 in their research report on August 17th as well.
Meanwhile, Guggenheim lowered their price target from $32.00 to $18.00 and TheStreet downgraded HE from a “b-” rating to a “c+” rating on August 16th.According to Bloomberg.com’s analysis, there is currently a consensus rating of “Hold” for the stock with a target price of $17.63.
Shares of HE opened at $12.80 on September 22nd with a market capitalization of $1.40 billion.The stock has a price-to-earnings ratio of 6.12, a P/E/G ratio of 1.83, and a beta of 0.51. Hawaiian Electric Industries has a debt-to-equity ratio of 1.14, and its quick ratio and current ratio are both 0.08.
The company’s 52-week low is $9.06 while its 52-week high is $43.71.The average price for the past 50 days is $23.60, and the two-hundred-day average price is $32.73.
Hawaiian Electric Industries last reported its quarterly earnings on August 7th, with the utilities provider posting an EPS (earnings per share) of $0.50, which fell short by ($0.04) compared to the consensus estimate of $0.54.The company generated revenue of $895.69 million during the quarter with a net margin of 5.94%. The return on equity was reported as 10.42%. Analysts predict that Hawaiian Electric Industries will achieve an EPS of 1.72 for the current year.
With recent fluctuations in institutional investors’ activity, as well as varied assessments from research firms, it remains uncertain how these factors will impact Hawaiian Electric Industries going forward.Participants in the market should closely monitor any developments to make informed decisions regarding their investments in HE stocks.
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