Sei Investments Co. boosted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) by 66.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 824,270 shares of the utilities provider’s stock after purchasing an additional 329,725 shares during the quarter. Sei Investments Co.’s holdings in Hawaiian Electric Industries were worth $12,232,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Navalign LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares in the last quarter. Larson Financial Group LLC grew its stake in Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after buying an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $32,000. 59.91% of the stock is owned by institutional investors.
Hawaiian Electric Industries Stock Performance
HE stock opened at $12.91 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. The company has a 50 day moving average price of $13.38 and a 200 day moving average price of $14.52. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $17.38. The stock has a market capitalization of $2.23 billion, a PE ratio of 17.45 and a beta of 0.49.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Wall Street Zen downgraded Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Zacks Research lowered Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Barclays lowered their target price on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, June 25th. Finally, Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Reduce” and an average price target of $12.38.
Get Our Latest Stock Report on Hawaiian Electric Industries
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.
Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.
Read More
- Five stocks we like better than Hawaiian Electric Industries
- Chevron’s Strong Quarter Shows Why It Still Leads the Energy Sector
- Amazon’s Earnings Beat Shows Why AWS Is Back at the Center of the Bull Case
- Apple’s Record Quarter Could Not Outrun Its Guidance Problem
- McKesson’s Compounding Keeps Adding Up
Want to see what other hedge funds are holding HE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report).
Receive News & Ratings for Hawaiian Electric Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hawaiian Electric Industries and related companies with MarketBeat.com's FREE daily email newsletter.
