TriaGen Wealth Management LLC Purchases New Holdings in Hawaiian Electric Industries, Inc. $HE

Key Points

• TriaGen Wealth Management LLC acquired 49,991 shares of Hawaiian Electric Industries, valued at approximately $547,000.
• Several hedge funds, including Summit Securities Group and American Century Companies, have changed their stakes in Hawaiian Electric Industries, with over 59.91% of the stock owned by institutional investors.
• Hawaiian Electric Industries reported a miss in earnings per share for the last quarter at $0.20, falling short of the expected $0.24.

TriaGen Wealth Management LLC bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 49,991 shares of the utilities provider's stock, valued at approximately $547,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its position 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 acquiring an additional 2,037 shares in the last quarter. Farther Finance Advisors LLC increased its position in 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 period. Comerica Bank increased its position in 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 period. Byrne Asset Management LLC increased its position in 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 period. Finally, US Bancorp DE increased its position in 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 period. Institutional investors and hedge funds own 59.91% of the company's stock.

Analysts Set New Price Targets

HE has been the topic of several research analyst reports. Barclays cut 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. Jefferies Financial Group lifted their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.94.

Hawaiian Electric Industries Trading Up 3.2%

NYSE:HE traded up $0.3770 on Friday, hitting $12.0170. 1,589,920 shares of the stock were exchanged, compared to its average volume of 2,276,912. The stock has a market cap of $2.07 billion, a PE ratio of -11.90 and a beta of 0.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The stock has a fifty day moving average of $10.85 and a 200-day moving average of $10.63. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $13.18.

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 the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million during the quarter. As a group, equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share 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.