Hawaiian Electric Industries, Inc. $HE Shares Purchased by Moors & Cabot Inc.

Key Points

• Moors & Cabot boosted its stake in Hawaiian Electric by 67.8% in Q3, buying 153,070 shares to hold 378,732 shares (about 0.22%) worth roughly $4.18M.
• Institutional ownership is high at 59.91%; notably, Horizon Kinetics owns 16,281,709 shares valued at about $173.08M, while several other large funds also recently adjusted positions.
• HE opened at $14.79 (market cap $2.55B) with a 52‑week range of $9.06–$17.38; the company reported Q earnings of $0.24 EPS (in line with estimates) and the stock carries an average analyst consensus of "Reduce" with a target of $13.25.

Moors & Cabot Inc. boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 67.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 378,732 shares of the utilities provider's stock after purchasing an additional 153,070 shares during the period. Moors & Cabot Inc. owned about 0.22% of Hawaiian Electric Industries worth $4,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in HE. Horizon Kinetics Asset Management LLC raised its position in Hawaiian Electric Industries by 28.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider's stock valued at $173,075,000 after acquiring an additional 3,624,709 shares in the last quarter. Geode Capital Management LLC boosted its position in Hawaiian Electric Industries by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 4,093,753 shares of the utilities provider's stock worth $43,522,000 after purchasing an additional 48,686 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Hawaiian Electric Industries by 1.3% during the 2nd quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider's stock worth $29,178,000 after purchasing an additional 34,535 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Hawaiian Electric Industries by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider's stock worth $22,762,000 after purchasing an additional 195,327 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of Hawaiian Electric Industries by 5.2% during the 3rd quarter. Bank of America Corp DE now owns 1,565,958 shares of the utilities provider's stock valued at $17,288,000 after purchasing an additional 76,820 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

HE opened at $14.79 on Tuesday. The firm's fifty day simple moving average is $15.35 and its two-hundred day simple moving average is $13.00. Hawaiian Electric Industries, Inc. has a 52-week low of $9.06 and a 52-week high of $17.38. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 20.82 and a beta of 0.62. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The firm had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. Equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Jefferies Financial Group cut shares of Hawaiian Electric Industries from a "hold" rating to an "underperform" rating and cut their price objective for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Barclays raised their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Wall Street Zen upgraded Hawaiian Electric Industries from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Finally, Zacks Research upgraded Hawaiian Electric Industries to a "hold" rating in a research report on Monday, February 9th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Hawaiian Electric Industries has an average rating of "Reduce" and a consensus target price of $13.25.

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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