Connor Clark & Lunn Investment Management Ltd. Buys Shares of 148,042 Hawaiian Electric Industries, Inc. $HE

Key Points

• Connor Clark & Lunn Investment Management acquired 148,042 shares of Hawaiian Electric Industries, valued at approximately $2.0 million, giving it a 0.09% stake. Institutional investors collectively own 59.91% of the company.
• Hawaiian Electric reported quarterly earnings of $0.13 per share, missing the $0.21 consensus estimate, while revenue matched expectations at $939.7 million. The stock opened at $11.41 and remains near its 12-month low of $10.79.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $11.88, with recent downgrades from Barclays, Zacks Research, and Jefferies.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 148,042 shares of the utilities provider's stock, valued at approximately $2,003,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of Hawaiian Electric Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Navalign LLC bought a new position in Hawaiian Electric Industries in the 4th quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its holdings in Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider's stock worth $25,000 after acquiring an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in 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 valued at $26,000 after acquiring an additional 1,365 shares during the period. Larson Financial Group LLC raised its stake in shares of Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter worth $32,000. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $11.41 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. The firm's fifty day simple moving average is $12.78 and its two-hundred day simple moving average is $14.06. Hawaiian Electric Industries, Inc. has a 12 month low of $10.79 and a 12 month high of $17.38. The stock has a market capitalization of $1.97 billion, a P/E ratio of 8.78 and a beta of 0.50.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings data 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). Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.The business had revenue of $939.70 million during the quarter, compared to the consensus estimate of $939.70 million. During the same period last year, the business posted $0.15 earnings per share. As a group, analysts predict that Hawaiian Electric Industries, Inc. will post 0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HE. Barclays cut their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 11th. Zacks Research downgraded Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Weiss Ratings raised Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Finally, Jefferies Financial Group cut their price objective on 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. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $11.88.

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.

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