182,120 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Bought by Lesa Sroufe & Co

Lesa Sroufe & Co bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 182,120 shares of the utilities provider’s stock, valued at approximately $1,994,000. Hawaiian Electric Industries makes up approximately 2.0% of Lesa Sroufe & Co’s portfolio, making the stock its 19th largest position. Lesa Sroufe & Co owned approximately 0.11% of Hawaiian Electric Industries as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Byrne Asset Management LLC lifted its holdings in Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 987 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Hawaiian Electric Industries by 3.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider’s stock worth $302,000 after acquiring an additional 1,080 shares in the last quarter. Xponance Inc. lifted its holdings in Hawaiian Electric Industries by 10.9% during the fourth quarter. Xponance Inc. now owns 11,935 shares of the utilities provider’s stock worth $116,000 after acquiring an additional 1,171 shares in the last quarter. Comerica Bank lifted its holdings in Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 1,715 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings 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 worth $47,000 after acquiring an additional 1,889 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HE has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Wells Fargo & Company boosted their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI upgraded Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $12.00 to $14.00 in a report on Friday, March 7th. Finally, Barclays boosted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average price target of $12.19.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $10.36 on Tuesday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.64. The stock’s 50-day moving average is $10.43 and its 200-day moving average is $10.20. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year 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.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $744.07 million for the quarter. During the same quarter in the previous year, the company posted $0.38 EPS. Equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal 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.