Quantbot Technologies LP purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 136,376 shares of the utilities provider’s stock, valued at approximately $1,845,000.
A number of other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of Hawaiian Electric Industries by 37.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 737 shares during the period. SBI Securities Co. Ltd. raised its holdings in Hawaiian Electric Industries by 9.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock valued at $117,000 after buying an additional 816 shares during the last quarter. Federated Hermes Inc. boosted its position in Hawaiian Electric Industries by 1.3% during the 2nd quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock valued at $775,000 after buying an additional 910 shares during the period. Xponance LLC boosted its position in Hawaiian Electric Industries by 5.7% during the 4th quarter. Xponance LLC now owns 17,022 shares of the utilities provider’s stock valued at $209,000 after buying an additional 918 shares during the period. Finally, CWM LLC boosted its position in Hawaiian Electric Industries by 41.3% during the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock valued at $39,000 after buying an additional 939 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.
Hawaiian Electric Industries Stock Down 0.8%
HE stock opened at $11.41 on Tuesday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.79 and a fifty-two week high of $17.38. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.78 and a beta of 0.50. The business’s 50 day moving average price is $12.91 and its two-hundred day moving average price is $14.20. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on HE shares. Jefferies Financial Group decreased their price objective 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. Zacks Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Barclays cut their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hawaiian Electric Industries has an average rating of “Reduce” and an average target price of $11.88.
Get Our Latest Research Report on HE
Hawaiian Electric Industries Profile
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.
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