Janney Montgomery Scott LLC Increases Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Janney Montgomery Scott LLC raised its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 269.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,720 shares of the utilities provider's stock after buying an additional 49,400 shares during the period. Janney Montgomery Scott LLC's holdings in Hawaiian Electric Industries were worth $742,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HE. New York State Common Retirement Fund increased its holdings in Hawaiian Electric Industries by 63.8% during the fourth quarter. New York State Common Retirement Fund now owns 51,100 shares of the utilities provider's stock valued at $497,000 after buying an additional 19,900 shares during the last quarter. Amalgamated Bank boosted its position in shares of Hawaiian Electric Industries by 50.9% in the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock worth $55,000 after purchasing an additional 1,905 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Hawaiian Electric Industries in the fourth quarter worth approximately $142,000. SRS Capital Advisors Inc. boosted its position in shares of Hawaiian Electric Industries by 155.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 8,668 shares of the utilities provider's stock worth $84,000 after purchasing an additional 5,270 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,889 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded up $0.22 during midday trading on Friday, reaching $11.02. 1,130,237 shares of the company were exchanged, compared to its average volume of 3,315,898. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.77. The business's fifty day moving average is $10.58 and its two-hundred day moving average is $10.24. The stock has a market cap 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 EPS for the quarter, meeting the consensus estimate of $0.23. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. The business had revenue of $744.07 million during the quarter. During the same quarter last year, the business earned $0.38 EPS. As a group, analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HE. Jefferies Financial Group upped their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $12.19.

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.