Deutsche Bank AG Invests $2.49 Million in Hawaiian Electric Industries, Inc. $HE

Key Points

• Deutsche Bank acquired 184,024 shares of Hawaiian Electric Industries during the second quarter, worth approximately $2.49 million and representing about 0.11% of the company.
• Institutional ownership remains substantial at 59.91%, with several other funds—including RBC, UBS Asset Management and Comerica Bank—increasing their positions.
• Hawaiian Electric missed quarterly earnings expectations, reporting $0.13 EPS versus $0.21 expected. Analysts maintain a cautious outlook, with an average “Reduce” rating and an $11.88 price target.

Deutsche Bank AG bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 184,024 shares of the utilities provider's stock, valued at approximately $2,490,000. Deutsche Bank AG owned approximately 0.11% of Hawaiian Electric Industries as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Comerica Bank grew its holdings in shares of Hawaiian Electric Industries by 45.0% during the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider's stock valued at $67,000 after buying an additional 1,886 shares during the last quarter. Royal Bank of Canada lifted its position in Hawaiian Electric Industries by 51.9% in the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider's stock valued at $4,159,000 after acquiring an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Hawaiian Electric Industries by 16.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider's stock valued at $1,331,000 after purchasing an additional 17,158 shares during the last quarter. Empowered Funds LLC increased its holdings in Hawaiian Electric Industries by 12.9% during the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider's stock worth $292,000 after purchasing an additional 3,060 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Hawaiian Electric Industries by 36.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider's stock worth $5,380,000 after purchasing an additional 132,321 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Trading Down 0.3%

NYSE HE opened at $11.46 on Friday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 8.81 and a beta of 0.50. Hawaiian Electric Industries, Inc. has a one year low of $10.79 and a one year high of $17.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99. The business's fifty day moving average is $12.81 and its 200-day moving average is $14.08.

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

Analyst Ratings Changes

Several brokerages have recently commented on HE. Jefferies Financial Group lowered their price objective on Hawaiian Electric Industries from $13.75 to $11.75 and set an "underperform" rating for the company in a research note on Monday, July 6th. Weiss Ratings upgraded Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Barclays lowered their price target on Hawaiian Electric Industries from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 11th. Finally, Zacks Research cut Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $11.88.

Hawaiian Electric Industries Company 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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