Mercer Global Advisors Inc. ADV bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,959 shares of the utilities provider’s stock, valued at approximately $291,000.
Several other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue raised its position in shares of Hawaiian Electric Industries by 4.2% in the 1st quarter. State of Alaska Department of Revenue now owns 49,748 shares of the utilities provider’s stock worth $2,027,000 after purchasing an additional 2,019 shares during the last quarter. Huntington National Bank raised its position in shares of Hawaiian Electric Industries by 643.5% in the 1st quarter. Huntington National Bank now owns 2,974 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 2,574 shares during the last quarter. First Hawaiian Bank raised its position in shares of Hawaiian Electric Industries by 38.4% in the 1st quarter. First Hawaiian Bank now owns 44,250 shares of the utilities provider’s stock worth $1,804,000 after purchasing an additional 12,273 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hawaiian Electric Industries by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 1,080,009 shares of the utilities provider’s stock worth $39,549,000 after purchasing an additional 66,153 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth about $24,278,000. Hedge funds and other institutional investors own 52.63% of the company’s stock.
In other Hawaiian Electric Industries news, Director James K. Scott sold 5,500 shares of the business’s stock in a transaction dated 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 is accessible through the SEC website. 0.94% of the stock is currently owned by insiders.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, February 15th. The utilities provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). Hawaiian Electric Industries had a return on equity of 9.60% and a net margin of 7.12%. The business had revenue of $761.65 million during the quarter, compared to analysts’ expectations of $524.89 million. During the same period last year, the firm posted $0.43 EPS. Hawaiian Electric Industries’s quarterly revenue was up 15.6% compared to the same quarter last year. Sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.94 earnings per share for the current fiscal year.
Separately, Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd.
About Hawaiian Electric Industries
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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