Jupiter Topco LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 74,286 shares of the utilities provider’s stock, valued at approximately $1,005,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Navalign LLC purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Hawaiian Electric Industries by 199,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,998 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,365 shares during the period. Larson Financial Group LLC increased its position in shares of Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC bought a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.
Wall Street Analyst Weigh In
HE has been the topic of several recent research reports. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Jefferies Financial Group cut 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 downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Finally, Barclays lowered their target price on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Hawaiian Electric Industries currently has an average rating of “Reduce” and an average target price of $11.88.
Hawaiian Electric Industries Price Performance
Shares of HE stock opened at $11.08 on Friday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a 50 day moving average price of $12.57 and a 200 day moving average price of $13.87. Hawaiian Electric Industries, Inc. has a 52-week low of $10.79 and a 52-week high of $17.38. The firm has a market capitalization of $1.91 billion, a P/E ratio of 8.52 and a beta of 0.48.
Hawaiian Electric Industries (NYSE:HE – Get Free Report) last released its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same quarter last year, the business posted $0.15 earnings per share. As a group, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 0.99 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 Articles
- Five stocks we like better than Hawaiian Electric Industries
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
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.
