Hawaiian Electric Industries, Inc. $HE Shares Bought by First Trust Advisors LP

First Trust Advisors LP grew its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 40.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 285,453 shares of the utilities provider's stock after buying an additional 82,439 shares during the period. First Trust Advisors LP owned 0.17% of Hawaiian Electric Industries worth $4,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HE. Dimensional Fund Advisors LP raised 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 last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at approximately $2,697,000. RFG Bristol Wealth Advisors LLC increased its holdings in shares of Hawaiian Electric Industries by 4.0% in the first quarter. RFG Bristol Wealth Advisors LLC now owns 39,624 shares of the utilities provider's stock valued at $588,000 after purchasing an additional 1,514 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Hawaiian Electric Industries during the first quarter worth approximately $1,371,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Hawaiian Electric Industries by 39.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,171 shares of the utilities provider's stock worth $225,000 after purchasing an additional 4,261 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Up 0.4%

Hawaiian Electric Industries stock opened at $12.75 on Wednesday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $17.38. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 17.22 and a beta of 0.50. The stock's fifty day moving average is $13.34 and its two-hundred day moving average is $14.51. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.34 and a current ratio of 1.34.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.09). Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. The business had revenue of $746.45 million during the quarter, compared to analysts' expectations of $746.45 million. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Barclays cut their target price on Hawaiian Electric Industries from $14.00 to $13.00 and set an "equal weight" rating for the company in a research note on Thursday, June 25th. Zacks Research cut Hawaiian Electric Industries from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Weiss Ratings upgraded Hawaiian Electric Industries from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, July 20th. Finally, Jefferies Financial Group dropped their price objective on Hawaiian Electric Industries from $13.75 to $11.75 and set an "underperform" rating on the stock in a report on Monday, July 6th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $12.38.

About Hawaiian Electric Industries

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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