Nuveen Asset Management LLC Sells 8,202 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Nuveen Asset Management LLC cut its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 20.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,331 shares of the utilities provider’s stock after selling 8,202 shares during the period. Nuveen Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $1,077,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in Hawaiian Electric Industries by 0.5% in the first quarter. LS Investment Advisors LLC now owns 7,387 shares of the utilities provider’s stock worth $246,000 after buying an additional 38 shares during the period. IFP Advisors Inc raised its stake in Hawaiian Electric Industries by 0.5% in the first quarter. IFP Advisors Inc now owns 9,278 shares of the utilities provider’s stock worth $309,000 after buying an additional 44 shares during the period. Capstone Asset Management Co. raised its stake in Hawaiian Electric Industries by 0.8% in the first quarter. Capstone Asset Management Co. now owns 10,215 shares of the utilities provider’s stock worth $340,000 after buying an additional 80 shares during the period. World Asset Management Inc raised its stake in Hawaiian Electric Industries by 2.0% in the first quarter. World Asset Management Inc now owns 6,723 shares of the utilities provider’s stock worth $224,000 after buying an additional 135 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Hawaiian Electric Industries by 2.5% in the first quarter. Private Advisor Group LLC now owns 8,284 shares of the utilities provider’s stock worth $280,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 48.23% of the company’s stock.

Hawaiian Electric Industries, Inc. (NYSE:HE) opened at 32.91 on Thursday. The company has a 50 day moving average of $32.66 and a 200-day moving average of $33.10. Hawaiian Electric Industries, Inc. has a 52-week low of $28.31 and a 52-week high of $34.08. The stock has a market capitalization of $3.58 billion, a P/E ratio of 14.33 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.03. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. The business had revenue of $556.90 million for the quarter, compared to the consensus estimate of $568 million. During the same quarter last year, the firm earned $0.43 EPS. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post $1.46 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Wednesday, August 23rd will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Monday, August 21st. Hawaiian Electric Industries’s dividend payout ratio is presently 55.11%.

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A number of brokerages have commented on HE. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Hawaiian Electric Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC reaffirmed an “underweight” rating and issued a $29.00 target price (up from $27.00) on shares of Hawaiian Electric Industries in a research report on Sunday, April 23rd.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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

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