Allianz Asset Management GmbH Acquires 388,334 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Key Points

• Allianz Asset Management GmbH increased its holdings in Hawaiian Electric Industries by 52.1%, acquiring an additional 388,334 shares, bringing their total ownership to approximately 1.13 million shares worth $12.4 million.
• Hawaiian Electric Industries reported $0.23 earnings per share for the last quarter, matching analysts' estimates, but faced a negative net margin of 42.60%.
• Barclays has cut its price target on Hawaiian Electric Industries from $11.00 to $10.00, while Jefferies Financial Group raised it slightly to $11.25, with an overall average consensus target price of $11.94.

Allianz Asset Management GmbH raised its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 52.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,133,574 shares of the utilities provider's stock after purchasing an additional 388,334 shares during the period. Allianz Asset Management GmbH owned 0.66% of Hawaiian Electric Industries worth $12,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HE. Allworth Financial LP lifted its stake in shares of Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after acquiring an additional 2,037 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Hawaiian Electric Industries by 3,797.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after acquiring an additional 3,380 shares during the period. Byrne Asset Management LLC lifted its stake in shares of Hawaiian Electric Industries by 34.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock worth $43,000 after acquiring an additional 987 shares during the period. Comerica Bank lifted its stake in shares of Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after acquiring an additional 1,715 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Hawaiian Electric Industries by 197.6% in the 1st quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider's stock worth $51,000 after acquiring an additional 3,102 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Down 0.5%

HE stock traded down $0.06 during trading hours on Tuesday, hitting $10.64. The company's stock had a trading volume of 291,070 shares, compared to its average volume of 2,321,976. 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 company has a market capitalization of $1.83 billion, a PE ratio of -0.82 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $17.00. The stock has a 50 day moving average price of $10.66 and a two-hundred day moving average price of $10.38.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. The company had revenue of $744.07 million during 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 in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

HE has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Barclays reduced their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, Jefferies Financial Group boosted their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $11.94.

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.