Hawaiian Electric Industries (NYSE:HE – Free Report) had its price objective trimmed by Wells Fargo & Company from $35.00 to $25.00 in a research note released on Monday morning, Marketbeat Ratings reports. The firm currently has an underweight rating on the utilities provider’s stock.

Several other analysts have also issued reports on the stock. Guggenheim cut their price target on shares of Hawaiian Electric Industries from $39.00 to $37.00 in a research report on Friday, July 7th. StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a research note on Thursday, May 18th. They set a hold rating for the company. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $22.25.

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Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries Announces Dividend

NYSE HE opened at $12.02 on Monday. The company has a 50-day simple moving average of $35.50 and a two-hundred day simple moving average of $37.72. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 1.14. Hawaiian Electric Industries has a 12-month low of $10.05 and a 12-month high of $43.71. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 2.34 and a beta of 0.41.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 11.98%. The ex-dividend date of this dividend is Thursday, August 17th. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 68.90%.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Hawaiian Electric Industries by 2.1% in the third quarter. Vanguard Group Inc. now owns 12,016,050 shares of the utilities provider’s stock worth $416,476,000 after buying an additional 245,066 shares in the last quarter. BlackRock Inc. increased its stake in shares of Hawaiian Electric Industries by 1.4% during the first quarter. BlackRock Inc. now owns 10,350,476 shares of the utilities provider’s stock valued at $397,458,000 after purchasing an additional 138,229 shares in the last quarter. State Street Corp increased its stake in shares of Hawaiian Electric Industries by 0.9% during the third quarter. State Street Corp now owns 3,770,062 shares of the utilities provider’s stock valued at $130,670,000 after purchasing an additional 31,995 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Hawaiian Electric Industries by 3.0% during the first quarter. First Trust Advisors LP now owns 2,094,933 shares of the utilities provider’s stock valued at $80,445,000 after purchasing an additional 60,418 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Hawaiian Electric Industries by 5.5% during the second quarter. Geode Capital Management LLC now owns 1,717,133 shares of the utilities provider’s stock valued at $62,160,000 after purchasing an additional 88,872 shares in the last quarter. 53.15% of the stock is owned by institutional investors.

About Hawaiian Electric Industries

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Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and non-regulated renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates through three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.

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