Moors & Cabot Inc. Takes $1.13 Million Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Key Points

• Moors & Cabot Inc. acquired 102,925 shares of Hawaiian Electric Industries, valued at approximately $1.1 million, increasing its ownership to 0.06% of the company.
• Several hedge funds significantly increased their stakes in Hawaiian Electric Industries, with Allworth Financial LP growing its position by 379.3% during the first quarter.
• Analysts have mixed views on the stock, with Barclays lowering the target price from $11.00 to $10.00, while Jefferies increased it to $11.25, and the consensus rating remains at "Hold" with an average target price of $11.94.

Moors & Cabot Inc. bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 102,925 shares of the utilities provider's stock, valued at approximately $1,127,000. Moors & Cabot Inc. owned approximately 0.06% of Hawaiian Electric Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of Hawaiian Electric Industries by 379.3% during the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after buying an additional 2,037 shares during the last quarter. Farther Finance Advisors LLC grew 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 during the last quarter. Comerica Bank grew 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 during the last quarter. Byrne Asset Management LLC grew 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 during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Hawaiian Electric Industries by 51.2% during the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock worth $47,000 after buying an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

HE traded up $0.09 during trading on Tuesday, reaching $11.01. The company's stock had a trading volume of 137,283 shares, compared to its average volume of 2,293,498. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $16.73. The company's fifty day moving average price is $10.67 and its 200-day moving average price is $10.44. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.85 and a beta of 0.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25.

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

Wall Street Analysts Forecast Growth

HE has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Barclays lowered their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has an average rating of "Hold" and a consensus 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.