Kingswood Wealth Advisors LLC Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Kingswood Wealth Advisors LLC bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 168,007 shares of the utilities provider's stock, valued at approximately $1,840,000. Kingswood Wealth Advisors LLC owned 0.10% of Hawaiian Electric Industries as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HE. Charles Schwab Investment Management Inc. grew its holdings in shares of Hawaiian Electric Industries by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock valued at $33,778,000 after buying an additional 449,873 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth about $142,000. Raymond James Financial Inc. purchased a new position in Hawaiian Electric Industries during the 4th quarter valued at about $342,000. Geode Capital Management LLC increased its holdings in shares of Hawaiian Electric Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider's stock valued at $38,208,000 after purchasing an additional 132,740 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Hawaiian Electric Industries by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock worth $177,397,000 after purchasing an additional 1,112,150 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $10.32 on Thursday. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of -0.80 and a beta of 0.64. The company's fifty day moving average is $10.45 and its 200-day moving average is $10.20. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued 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. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. The firm had revenue of $744.07 million during the quarter. During the same quarter in the prior year, the company posted $0.38 earnings per share. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HE shares. Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Barclays boosted their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Jefferies Financial Group increased their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.19.

Hawaiian Electric Industries Company 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.

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