BlackRock Maintains 6.1% Stake in Hawaiian Electric Industries
Ticker: HE · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 354707
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, amendment, utility-sector
TL;DR
**BlackRock still owns 6.1% of Hawaiian Electric, a passive but notable stake.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 29, 2024, disclosing its ownership in Hawaiian Electric Industries Inc. (HEI) as of December 31, 2023. This filing indicates BlackRock's continued significant, but passive, stake in HEI, holding 6,700,569 shares of Common Stock, representing 6.1% of the company. This matters to investors because BlackRock is a major institutional investor, and its sustained position suggests a long-term, albeit passive, confidence in HEI's value, which can influence market perception and stability.
Why It Matters
BlackRock's continued significant ownership signals institutional confidence in Hawaiian Electric Industries, potentially reassuring other investors about the company's stability and future prospects.
Risk Assessment
Risk Level: low — This filing is an update on a passive investment by a large institutional investor, indicating no immediate change in company control or strategy.
Analyst Insight
A smart investor would note BlackRock's continued passive stake as a sign of long-term institutional interest, but recognize it doesn't signal any active management changes or immediate catalysts for Hawaiian Electric Industries Inc.
Key Numbers
- 6,700,569 — Shares Owned (BlackRock's total beneficial ownership in Hawaiian Electric Industries Inc.)
- 6.1% — Ownership Percentage (BlackRock's stake in the Common Stock of Hawaiian Electric Industries Inc.)
Key Players & Entities
- BlackRock Inc. (company) — reporting person, institutional investor
- Hawaiian Electric Industries Inc. (company) — subject company, issuer of securities
- 6,700,569 (dollar_amount) — number of shares beneficially owned by BlackRock Inc.
- 6.1% (dollar_amount) — percentage of class beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — date of event requiring the filing
- January 29, 2024 (date) — filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in Hawaiian Electric Industries Inc. for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024
FAQ
What type of filing is this document and what does it generally indicate?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It generally indicates that a passive institutional investor, like BlackRock Inc., has updated its beneficial ownership stake in a company, in this case, Hawaiian Electric Industries Inc., as of a specific date.
Who is the reporting person in this filing, and what company's shares are they reporting on?
The reporting person is BlackRock Inc., and they are reporting on their beneficial ownership of Common Stock in Hawaiian Electric Industries Inc.
As of what date is the ownership information in this filing accurate?
The ownership information in this filing is accurate as of December 31, 2023, which is the 'Date of Event Which Requires Filing of this Statement'.
How many shares of Hawaiian Electric Industries Inc. Common Stock does BlackRock Inc. beneficially own, and what percentage does this represent?
BlackRock Inc. beneficially owns 6,700,569 shares of Hawaiian Electric Industries Inc. Common Stock, which represents 6.1% of the class of securities.
Under which rule of the Securities Exchange Act of 1934 is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'X' in the appropriate box.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding HAWAIIAN ELECTRIC INDUSTRIES INC (HE).