Shares of Hawaiian Electric Industries Inc. (NYSE:HE) dropped 3% during trading on Thursday . The company traded as low as $32.06 and last traded at $32.08, with a volume of 244,471 shares trading hands. The stock had previously closed at $33.08.

HE has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, March 29th. Barclays PLC raised their target price on shares of Hawaiian Electric Industries from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Friday, March 18th.

The company has a market capitalization of $3.49 billion and a P/E ratio of 21.75. The stock has a 50 day moving average price of $33.24 and a 200-day moving average price of $31.39.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.06. The business had revenue of $550.96 million for the quarter, compared to analyst estimates of $588.65 million. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.35 EPS. On average, equities analysts forecast that Hawaiian Electric Industries Inc. will post $1.70 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Tuesday, May 31st were paid a dividend of $0.31 per share. The ex-dividend date was Thursday, May 26th. This represents a $1.24 dividend on an annualized basis and a yield of 3.83%.

A number of hedge funds have made changes to their positions in the stock. Wells Fargo & Company MN raised its stake in shares of Hawaiian Electric Industries by 23.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,060,005 shares of the company’s stock worth $30,687,000 after buying an additional 198,437 shares during the period. First Trust Advisors LP raised its stake in shares of Hawaiian Electric Industries by 19.2% in the fourth quarter. First Trust Advisors LP now owns 413,545 shares of the company’s stock worth $11,972,000 after buying an additional 66,570 shares during the period. Principal Financial Group Inc. raised its stake in shares of Hawaiian Electric Industries by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 338,892 shares of the company’s stock worth $9,811,000 after buying an additional 3,342 shares during the period. California State Teachers Retirement System raised its stake in shares of Hawaiian Electric Industries by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 205,423 shares of the company’s stock worth $5,947,000 after buying an additional 3,278 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Hawaiian Electric Industries by 1.5% in the fourth quarter. Rhumbline Advisers now owns 152,014 shares of the company’s stock worth $4,401,000 after buying an additional 2,289 shares during the period.

Hawaiian Electric Industries, Inc (HEI) 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 segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).

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