CSM Advisors LLC Takes Position in Hawaiian Electric Industries, Inc. $HE

CSM Advisors LLC purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 511,807 shares of the utilities provider’s stock, valued at approximately $5,440,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in shares of Hawaiian Electric Industries during the 1st quarter valued at $275,000. Principal Financial Group Inc. bought a new stake in Hawaiian Electric Industries during the first quarter worth about $126,000. Bank of New York Mellon Corp boosted its stake in Hawaiian Electric Industries by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 576,286 shares of the utilities provider’s stock worth $6,310,000 after acquiring an additional 28,239 shares in the last quarter. Allworth Financial LP grew its holdings in Hawaiian Electric Industries by 379.3% in the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 2,037 shares during the period. Finally, Xponance Inc. increased its stake in shares of Hawaiian Electric Industries by 12.8% during the first quarter. Xponance Inc. now owns 13,464 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 1,529 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.2%

Shares of NYSE:HE opened at $11.57 on Monday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $13.41. The company has a market cap of $2.00 billion, a P/E ratio of -11.45 and a beta of 0.67. The stock’s fifty day moving average price is $11.65 and its 200-day moving average price is $11.12.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.39. The company had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. Sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HE shares. Jefferies Financial Group raised Hawaiian Electric Industries to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average price target of $11.94.

About Hawaiian Electric Industries

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.