Promethium Advisors LLC Purchases Shares of 43,108 Hawaiian Electric Industries, Inc. $HE

Key Points

• Promethium Advisors LLC has acquired a new stake in Hawaiian Electric Industries, purchasing 43,108 shares valued at approximately $472,000.
• Hedge funds and institutional investors own 59.91% of Hawaiian Electric Industries' stock, with significant share increases reported by multiple advisors in the first quarter.
• The stock opened at $12.97 and has a 12-month range between $8.14 and $13.41, with a current market capitalization of $2.24 billion.

Promethium Advisors LLC bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 43,108 shares of the utilities provider's stock, valued at approximately $472,000.

Other large investors have also made changes to their positions in the company. Allworth Financial LP raised its stake in shares of Hawaiian Electric Industries by 379.3% during the 1st 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 period. Farther Finance Advisors LLC raised its stake in shares of Hawaiian Electric Industries by 3,797.8% during the 1st 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 period. Comerica Bank raised its stake in Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 1,715 shares during the last quarter. Byrne Asset Management LLC raised its stake in Hawaiian Electric Industries by 34.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 987 shares during the last quarter. Finally, US Bancorp DE raised its stake in Hawaiian Electric Industries by 51.2% in the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 1,453 shares during the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Trading Down 0.7%

Shares of NYSE HE traded down $0.09 during mid-day trading on Friday, reaching $12.29. 1,427,133 shares of the company's stock were exchanged, compared to its average volume of 2,257,482. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -12.16 and a beta of 0.69. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $13.41. The company's 50-day moving average is $11.29 and its 200-day moving average is $10.82.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly 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 business had revenue of $746.39 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. Analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

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.