Ethos Financial Group LLC Invests $690,000 in Hawaiian Electric Industries, Inc. $HE

Key Points

• Ethos Financial Group LLC has acquired 63,042 shares of Hawaiian Electric Industries, valued at approximately $690,000, as part of their first-quarter investment strategy.
• Hawaiian Electric Industries reported $0.20 EPS for the quarter, falling short of analysts' consensus estimates of $0.24 EPS, and had a negative net margin of 3.66%.
• Multiple institutional investors, including Zimmer Partners LP and Two Sigma Investments LP, have increased their stakes in Hawaiian Electric Industries, indicating significant interest in the company's stock.

Ethos Financial Group LLC purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,042 shares of the utilities provider's stock, valued at approximately $690,000.

Several other hedge funds have also recently modified their holdings of HE. T. Rowe Price Investment Management Inc. purchased a new position in shares of Hawaiian Electric Industries in the fourth quarter worth $115,010,000. Two Sigma Investments LP raised its stake in shares of 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 raised its stake in shares of Hawaiian Electric Industries by 910.7% in the first quarter. Mad River Investors now owns 1,215,900 shares of the utilities provider's stock worth $13,314,000 after purchasing an additional 1,095,600 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of Hawaiian Electric Industries in the first quarter worth $8,359,000. Finally, Foundry Partners LLC purchased a new position in shares of Hawaiian Electric Industries in the first quarter worth $6,905,000. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

NYSE HE traded up $0.5370 on Friday, hitting $12.1770. 2,884,973 shares of the company traded hands, compared to its average volume of 1,793,258. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -12.06 and a beta of 0.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The business's 50 day moving average price is $10.88 and its 200-day moving average price is $10.65. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $13.18.

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

Analyst Ratings Changes

HE has been the subject of several research analyst reports. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Barclays cut their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, Jefferies Financial Group lifted their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Company 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.