Jefferies Financial Group Inc. Purchases New Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Jefferies Financial Group Inc. purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, Holdings Channel.com reports. The firm purchased 583,800 shares of the utilities provider’s stock, valued at approximately $5,680,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,062 shares during the last quarter. R Squared Ltd acquired a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $36,000. Comerica Bank raised its stake in Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock valued at $41,000 after buying an additional 1,715 shares in the last quarter. Jones Financial Companies Lllp raised its stake in Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,889 shares in the last quarter. Finally, Sterling Capital Management LLC raised its stake in Hawaiian Electric Industries by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider’s stock valued at $51,000 after buying an additional 4,651 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Evercore ISI upgraded Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Finally, Barclays increased their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.00.

Hawaiian Electric Industries Stock Up 0.8%

HE opened at $10.50 on Monday. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market cap of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.64. The stock’s 50 day moving average price is $10.51 and its 200 day moving average price is $10.15.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm had revenue of $744.07 million for the quarter. During the same quarter in the prior year, the business earned $0.38 earnings per share. As a group, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in 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.