34,222 Shares in Hawaiian Electric Industries, Inc. $HE Bought by IMS Capital Management

Key Points

• IMS Capital Management purchased a total of 34,222 shares of Hawaiian Electric Industries, valued at approximately $364,000, in the second quarter.
• Hawaiian Electric Industries has experienced significant stake increases from multiple institutional investors, with 59.91% of the stock now owned by these entities.
• Barclays has revised its target price for Hawaiian Electric Industries from $11.00 to $10.00, while Jefferies Financial Group raised their target from $11.00 to $11.25, indicating mixed analyst sentiment toward the stock.

IMS Capital Management bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 34,222 shares of the utilities provider's stock, valued at approximately $364,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after purchasing an additional 2,037 shares during the period. Farther Finance Advisors LLC boosted its stake in Hawaiian Electric Industries by 3,797.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after purchasing an additional 3,380 shares during the period. Byrne Asset Management LLC boosted its stake in Hawaiian Electric Industries by 34.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock worth $43,000 after purchasing an additional 987 shares during the period. US Bancorp DE boosted its stake in Hawaiian Electric Industries by 51.2% in the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,453 shares during the period. Finally, Versant Capital Management Inc boosted its stake in Hawaiian Electric Industries by 197.6% in the 1st quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider's stock worth $51,000 after purchasing an additional 3,102 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HE has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Jefferies Financial Group increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.94.

Hawaiian Electric Industries Trading Up 0.1%

Shares of NYSE:HE opened at $11.53 on Wednesday. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $13.41. The company has a market capitalization of $1.99 billion, a P/E ratio of -11.41 and a beta of 0.69. The company has a 50-day simple moving average of $11.57 and a 200 day simple moving average of $10.91. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07.

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

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