23,813 Shares in Hawaiian Electric Industries, Inc. $HE Purchased by Optimize Financial Inc

Key Points

• Optimize Financial Inc. has purchased 23,813 shares of Hawaiian Electric Industries, Inc., valued at around $261,000, marking the firm's new stake in the utility provider.
• Several institutional investors, including Northern Trust Corp. and Ameriprise Financial Inc., have also increased their stakes in Hawaiian Electric, reflecting a growing interest in the company's stock.
• Hawaiian Electric's stock currently has a consensus rating of "Hold" from analysts, with a recent average target price set at $11.94.

Optimize Financial Inc bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 23,813 shares of the utilities provider's stock, valued at approximately $261,000.

A number of other institutional investors have also added to or reduced their stakes in HE. The Manufacturers Life Insurance Company increased its position in Hawaiian Electric Industries by 41.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 82,070 shares of the utilities provider's stock valued at $799,000 after purchasing an additional 24,247 shares during the period. Northern Trust Corp increased its position in Hawaiian Electric Industries by 7.9% during the 4th quarter. Northern Trust Corp now owns 1,530,418 shares of the utilities provider's stock valued at $14,891,000 after purchasing an additional 111,698 shares during the period. Comerica Bank increased its position in Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 1,715 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in Hawaiian Electric Industries during the 4th quarter valued at about $107,000. Finally, Ameriprise Financial Inc. increased its position in Hawaiian Electric Industries by 31.7% during the 4th quarter. Ameriprise Financial Inc. now owns 19,318 shares of the utilities provider's stock valued at $188,000 after purchasing an additional 4,649 shares during the period. 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 a number of research reports. Jefferies Financial Group raised their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research report on Wednesday, May 28th. Barclays cut their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Stock Down 0.3%

NYSE:HE opened at $11.85 on Wednesday. The company has a market cap of $2.04 billion, a PE ratio of -11.73 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a twelve month low of $8.14 and a twelve month high of $13.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The company's 50 day moving average is $11.33 and its two-hundred day moving average is $10.83.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $746.39 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. Analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hawaiian Electric Industries 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.

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