Hsbc Holdings PLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 69,011 shares of the utilities provider’s stock, valued at approximately $849,000.
Several other institutional investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in Hawaiian Electric Industries by 37.9% during the 4th 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. boosted its stake in Hawaiian Electric Industries by 9.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 816 shares during the period. Venturi Wealth Management LLC boosted its stake in Hawaiian Electric Industries by 5.9% in the 4th quarter. Venturi Wealth Management LLC now owns 15,714 shares of the utilities provider’s stock worth $193,000 after purchasing an additional 871 shares during the period. Federated Hermes Inc. grew its holdings 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 in the last quarter. Finally, Xponance LLC grew its holdings 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 in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on HE. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays cut their target price on shares of 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. Weiss Ratings downgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 15th. Jefferies Financial Group decreased 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 note on Monday, July 6th. Finally, Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $12.38.
Hawaiian Electric Industries Stock Down 0.0%
Shares of NYSE:HE opened at $13.49 on Wednesday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 18.24 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 12 month low of $10.45 and a 12 month high of $17.38. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. The company has a 50-day moving average price of $13.53 and a 200 day moving average price of $14.49.
Hawaiian Electric Industries (NYSE:HE – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The company had revenue of $746.45 million for the quarter, compared to analysts’ expectations of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current year.
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.
Featured Stories
- Five stocks we like better than Hawaiian Electric Industries
- Why Fastenal’s Latest Drop Could Be Its Biggest Opportunity Yet
- 3 Overlooked Energy ETFs Delivering Strong Returns and Income
- 3 Space Stocks That Could Outshine SpaceX After Its IPO
- JPMorgan’s Q2 Strength Gives the Stock Rally New Support
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.
