50,538 Shares in Hawaiian Electric Industries, Inc. $HE Acquired by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC has acquired 50,538 shares of Hawaiian Electric Industries, valued at approximately $553,000, as per their recent SEC filing.
• Hawaiian Electric Industries reported earnings of $0.20 per share for the last quarter, missing the consensus estimate of $0.24, with a revenue of $746.39 million.
• Multiple hedge funds have increased their stakes in Hawaiian Electric, with institutional investors now owning 59.91% of the company’s stock.

HighTower Advisors LLC bought a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,538 shares of the utilities provider's stock, valued at approximately $553,000.

Other hedge funds have also modified their holdings of the company. Eagle Global Advisors LLC raised its holdings in Hawaiian Electric Industries by 7.3% in the 1st quarter. Eagle Global Advisors LLC now owns 1,251,904 shares of the utilities provider's stock valued at $13,708,000 after buying an additional 85,423 shares during the period. Nuveen LLC acquired a new stake in shares of Hawaiian Electric Industries during the first quarter valued at about $5,895,000. Virtu Financial LLC raised its stake in shares of Hawaiian Electric Industries by 48.9% in the 1st quarter. Virtu Financial LLC now owns 31,352 shares of the utilities provider's stock valued at $343,000 after acquiring an additional 10,300 shares during the period. Invesco Ltd. lifted its holdings in shares of Hawaiian Electric Industries by 3.4% in the 1st quarter. Invesco Ltd. now owns 232,545 shares of the utilities provider's stock worth $2,546,000 after acquiring an additional 7,706 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Hawaiian Electric Industries by 3.3% in the 1st quarter. Swiss National Bank now owns 334,100 shares of the utilities provider's stock worth $3,658,000 after acquiring an additional 10,800 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HE. Barclays cut their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Jefferies Financial Group raised their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Stock Down 0.6%

Shares of HE stock traded down $0.08 during trading hours on Thursday, reaching $12.35. 1,649,862 shares of the stock were exchanged, compared to its average volume of 2,249,707. The business's fifty day moving average is $11.26 and its two-hundred day moving average is $10.81. The firm has a market capitalization of $2.13 billion, a P/E ratio of -12.23 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a 12-month low of $8.14 and a 12-month high of $13.41. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The firm had revenue of $746.39 million for the quarter. As a group, research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Hawaiian Electric Industries Profile

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.