Nuveen LLC Purchases New Position in Hawaiian Electric Industries, Inc. $HE

Key Points

• Nuveen LLC has acquired a new stake in Hawaiian Electric Industries, purchasing 538,317 shares worth approximately $5.9 million, bringing their total ownership to 0.31% of the company.
• Several institutional investors, including Allworth Financial LP and Farther Finance Advisors LLC, significantly increased their holdings in Hawaiian Electric Industries by as much as 3,797.8% during the first quarter.
• Hawaiian Electric's recent quarterly earnings report showed a miss of estimates, with $0.20 EPS compared to the predicted $0.24, prompting mixed reviews from analysts on the stock's performance and target price adjustments.

Nuveen LLC acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 538,317 shares of the utilities provider's stock, valued at approximately $5,895,000. Nuveen LLC owned approximately 0.31% of Hawaiian Electric Industries as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Virtu Financial LLC boosted its stake in Hawaiian Electric Industries by 48.9% in the 1st quarter. Virtu Financial LLC now owns 31,352 shares of the utilities provider's stock worth $343,000 after purchasing an additional 10,300 shares during the period. Invesco Ltd. boosted its stake in 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 purchasing an additional 7,706 shares during the period. Swiss National Bank boosted its stake in 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 purchasing an additional 10,800 shares during the period. Deutsche Bank AG boosted its stake in Hawaiian Electric Industries by 20.6% in the 1st quarter. Deutsche Bank AG now owns 829,241 shares of the utilities provider's stock worth $9,080,000 after purchasing an additional 141,835 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter worth $150,000. Institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded up $0.08 during trading hours on Friday, hitting $12.97. 4,748,701 shares of the stock were exchanged, compared to its average volume of 2,036,094. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $2.24 billion, a PE ratio of -12.84 and a beta of 0.64. The company's fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $10.75. Hawaiian Electric Industries, Inc. has a 1-year low of $8.14 and a 1-year high of $13.41.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The company had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. On average, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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. Jefferies Financial Group raised their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Finally, 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 research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Hawaiian Electric Industries currently has a consensus 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.