CW Advisors LLC Takes $1.96 Million Position in Hawaiian Electric Industries, Inc. $HE

Key Points

• CW Advisors LLC acquired a new stake in Hawaiian Electric Industries, purchasing 178,606 shares valued at approximately $1.96 million, representing about 0.10% ownership in the company.
• Significant increases in holdings were reported by other institutional investors, with Allworth Financial LP and Farther Finance Advisors LLC raising their stakes by 379.3% and 3,797.8% respectively during the first quarter.
• Hawaiian Electric Industries is currently facing challenges as it reported earnings per share of $0.20, falling short of the analysts' expectation of $0.24, with a negative net margin of 3.66%.

CW Advisors LLC bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 178,606 shares of the utilities provider's stock, valued at approximately $1,956,000. CW Advisors LLC owned 0.10% of Hawaiian Electric Industries at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Investments LP increased its position in Hawaiian Electric Industries by 165.6% in the fourth quarter. Two Sigma Investments LP now owns 2,043,726 shares of the utilities provider's stock worth $19,885,000 after purchasing an additional 1,274,119 shares during the last quarter. Mad River Investors boosted its holdings in shares of Hawaiian Electric Industries by 910.7% in the 1st quarter. Mad River Investors now owns 1,215,900 shares of the utilities provider's stock valued at $13,314,000 after buying an additional 1,095,600 shares in the last quarter. Congress Asset Management Co. acquired a new stake in Hawaiian Electric Industries in the first quarter worth about $8,359,000. Foundry Partners LLC acquired a new stake in Hawaiian Electric Industries during the first quarter worth about $6,905,000. Finally, Jefferies Financial Group Inc. purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at $5,680,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HE. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Jefferies Financial Group upped their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Finally, Barclays lowered 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 equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Stock Up 0.6%

Hawaiian Electric Industries stock traded up $0.08 during midday trading on Friday, hitting $12.97. 4,748,701 shares of the company were exchanged, compared to its average volume of 2,036,094. The company's fifty day moving average price is $11.11 and its 200-day moving average price is $10.75. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $2.24 billion, a PE ratio of -12.84 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $13.41.

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