Hawaiian Electric Industries, Inc. $HE Holdings Lifted by T3 Companies LLC

Key Points

• T3 Companies LLC increased its Hawaiian Electric Industries position by 822.9% in the third quarter, holding 170,275 shares valued at approximately $1.52 million. Institutional investors collectively own 59.91% of HE.
• HE shares opened at $8.71, near their 52-week low of $8.20 and below the 50-day and 200-day moving averages. The company recently reported quarterly EPS of $0.13, missing analyst expectations of $0.21.
• Analyst sentiment remains negative: HE has an average rating of “Strong Sell” from MarketBeat, with three Sell ratings and two Holds, and an average price target of $7.67.

T3 Companies LLC increased its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 822.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,275 shares of the utilities provider's stock after purchasing an additional 151,825 shares during the quarter. Hawaiian Electric Industries accounts for approximately 1.5% of T3 Companies LLC's investment portfolio, making the stock its 16th largest holding. T3 Companies LLC owned 0.10% of Hawaiian Electric Industries worth $1,522,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of HE. BlackRock Inc. acquired a new position in Hawaiian Electric Industries in the 2nd quarter worth approximately $358,318,000. Quantinno Capital Management LP raised its position in Hawaiian Electric Industries by 8.3% during the 1st quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider's stock worth $52,126,000 after buying an additional 270,546 shares during the last quarter. Bank of America Corp DE raised its position in Hawaiian Electric Industries by 111.6% during the 1st quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider's stock worth $40,575,000 after buying an additional 1,442,031 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake 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 valued at $38,045,000 after acquiring an additional 351,602 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Hawaiian Electric Industries by 56.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,290,105 shares of the utilities provider's stock valued at $19,145,000 after acquiring an additional 467,312 shares during the period. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Down 0.1%

Shares of HE opened at $8.71 on Friday. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 11.78 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 52 week low of $8.20 and a 52 week high of $17.38. The stock's 50-day moving average price is $9.99 and its 200-day moving average price is $12.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced 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 analysts' expectations of $939.70 million. During the same quarter in the prior year, the business posted $0.15 earnings per share. On average, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 0.80 EPS for the current year.

Wall Street Analyst Weigh In

HE has been the topic of several recent research reports. LADENBURG THALM/SH SH initiated coverage on shares of Hawaiian Electric Industries in a report on Tuesday, September 8th. They issued a "sell" rating and a $7.00 price objective on the stock. Jefferies Financial Group cut their price objective on shares of Hawaiian Electric Industries from $8.75 to $7.00 and set an "underperform" rating on the stock in a research note on Tuesday, October 6th. Zacks Research raised shares of Hawaiian Electric Industries from a "strong sell" rating to a "hold" rating in a report on Friday, October 9th. Weiss Ratings downgraded shares of Hawaiian Electric Industries from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, October 14th. Finally, Barclays decreased their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Strong Sell" and an average price target of $7.67.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc NYSE: HE is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.

The utility uses a combination of renewable and conventional energy resources and supports Hawaii's transition toward a cleaner electric system.

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