Congress Asset Management Co. Buys New Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Congress Asset Management Co. bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 763,377 shares of the utilities provider's stock, valued at approximately $8,359,000. Congress Asset Management Co. owned 0.44% of Hawaiian Electric Industries at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its position 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 valued at $302,000 after buying an additional 1,080 shares during the period. Xponance Inc. boosted its position in shares of Hawaiian Electric Industries by 10.9% in the fourth quarter. Xponance Inc. now owns 11,935 shares of the utilities provider's stock worth $116,000 after purchasing an additional 1,171 shares during the period. Comerica Bank boosted its position in shares of Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after purchasing an additional 1,715 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,889 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Hawaiian Electric Industries by 50.9% in the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock worth $55,000 after purchasing an additional 1,905 shares during the period. 59.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on HE. Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Wells Fargo & Company upped their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Barclays upped their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group upped their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $12.19.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $10.45 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a fifty day moving average price of $10.36 and a 200 day moving average price of $10.21. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of -0.88 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The firm had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. During the same quarter in the prior year, the company posted $0.38 EPS. As a group, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

About Hawaiian Electric Industries

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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