Corient Private Wealth LP Raises Holdings in Hawaiian Electric Industries, Inc. $HE

Key Points

• Corient Private Wealth increased its Hawaiian Electric Industries stake by 41.6% in the second quarter, owning 490,229 shares valued at approximately $6.6 million. Institutional investors collectively hold nearly 60% of the company.
• Hawaiian Electric reported quarterly EPS of $0.13, missing the $0.21 analyst consensus, while revenue matched estimates at $939.7 million.
• Investor sentiment remains weak: analysts assign the stock a consensus “Strong Sell” rating with an average price target of $9.25, below its reported $10.10 opening price.

Corient Private Wealth LP raised its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 41.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,229 shares of the utilities provider's stock after purchasing an additional 144,124 shares during the period. Corient Private Wealth LP owned about 0.28% of Hawaiian Electric Industries worth $6,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in HE. BlackRock Inc. purchased a new stake in shares of Hawaiian Electric Industries during the second quarter worth approximately $358,318,000. Horizon Kinetics Asset Management LLC raised its holdings in Hawaiian Electric Industries by 6.2% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider's stock valued at $238,526,000 after acquiring an additional 1,134,646 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Hawaiian Electric Industries by 8.3% in the first quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider's stock worth $52,126,000 after acquiring an additional 270,546 shares during the last quarter. Bank of America Corp DE lifted its stake in Hawaiian Electric Industries by 111.6% in the first quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider's stock worth $40,575,000 after acquiring an additional 1,442,031 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Hawaiian Electric Industries by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,563,708 shares of the utilities provider's stock worth $38,045,000 after acquiring an additional 351,602 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $10.10 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99. Hawaiian Electric Industries, Inc. has a 1 year low of $10.07 and a 1 year high of $17.38. The company has a market capitalization of $1.74 billion, a PE ratio of 7.77 and a beta of 0.48. The company has a fifty day moving average of $12.02 and a two-hundred day moving average of $13.51.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.08). The firm had revenue of $939.70 million for the quarter, compared to analyst estimates 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 firm posted $0.15 EPS. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HE. Zacks Research downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, September 8th. They set a "sell" rating and a $7.00 price objective for the company. 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 research note on Tuesday, August 11th. Jefferies Financial Group set a $8.75 target price on Hawaiian Electric Industries in a report on Wednesday. Finally, Weiss Ratings upgraded Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Strong Sell" and an average target price of $9.25.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc NYSE: HE is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.

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