Thrivent Financial for Lutherans Decreases Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Thrivent Financial for Lutherans cut its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 50.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,984 shares of the utilities provider’s stock after selling 29,016 shares during the period. Thrivent Financial for Lutherans’ holdings in Hawaiian Electric Industries were worth $1,225,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Hawaiian Electric Industries by 0.9% in the second quarter. Wells Fargo & Company MN now owns 2,958,255 shares of the utilities provider’s stock valued at $125,074,000 after buying an additional 26,669 shares in the last quarter. Walleye Capital LLC acquired a new stake in Hawaiian Electric Industries in the second quarter valued at $2,091,000. Walleye Trading LLC acquired a new stake in Hawaiian Electric Industries in the second quarter valued at $381,000. Metropolitan Life Insurance Co NY raised its stake in Hawaiian Electric Industries by 114,077.8% in the second quarter. Metropolitan Life Insurance Co NY now owns 20,552 shares of the utilities provider’s stock valued at $869,000 after buying an additional 20,534 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Hawaiian Electric Industries by 346.6% in the second quarter. Millennium Management LLC now owns 370,321 shares of the utilities provider’s stock valued at $15,657,000 after buying an additional 287,404 shares in the last quarter. Hedge funds and other institutional investors own 52.89% of the company’s stock.

HE opened at $39.89 on Thursday. The business’s 50-day simple moving average is $40.80 and its 200-day simple moving average is $42.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.07 and a current ratio of 0.07. Hawaiian Electric Industries, Inc. has a one year low of $32.96 and a one year high of $45.97. The stock has a market capitalization of $4.36 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 2.56 and a beta of 0.25.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, November 5th. The utilities provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.01). Hawaiian Electric Industries had a return on equity of 10.37% and a net margin of 8.93%. The firm had revenue of $756.90 million for the quarter. During the same quarter in the prior year, the business earned $0.59 EPS. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 2.13 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 10th. Investors of record on Tuesday, November 23rd will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Monday, November 22nd. Hawaiian Electric Industries’s dividend payout ratio is currently 61.54%.

Separately, Zacks Investment Research upgraded Hawaiian Electric Industries from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Monday, October 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.80.

Hawaiian Electric Industries Company Profile

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 in the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.

Further Reading: The Role of a Fiduciary and Individual Investors

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

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