Cambridge Investment Research Advisors Inc. Acquires 48,792 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 123.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,172 shares of the utilities provider's stock after purchasing an additional 48,792 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.05% of Hawaiian Electric Industries worth $965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HE. Farther Finance Advisors LLC increased its holdings in shares of Hawaiian Electric Industries by 3,797.8% during the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after buying an additional 3,380 shares in the last quarter. Comerica Bank increased its holdings in shares of Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after buying an additional 1,715 shares in the last quarter. Byrne Asset Management LLC increased its holdings in shares of Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock worth $43,000 after buying an additional 987 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after buying an additional 1,889 shares in the last quarter. Finally, Sterling Capital Management LLC increased its holdings in shares of Hawaiian Electric Industries by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider's stock worth $51,000 after buying an additional 4,651 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HE. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Jefferies Financial Group increased their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $12.19.

Hawaiian Electric Industries Trading Up 2.0%

Hawaiian Electric Industries stock traded up $0.22 during trading hours on Friday, reaching $11.02. 1,130,237 shares of the company's stock were exchanged, compared to its average volume of 3,315,898. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77. The firm's 50 day simple moving average is $10.58 and its 200 day simple moving average is $10.24. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The firm has a market capitalization of $1.90 billion, a PE ratio of -0.85 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. During the same period last year, the company earned $0.38 EPS. Research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

About Hawaiian Electric Industries

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.