TriaGen Wealth Management LLC Buys Shares of 49,991 Hawaiian Electric Industries, Inc. (NYSE: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 stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 49,991 shares of the utilities provider's stock, valued at approximately $547,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in Hawaiian Electric Industries in the first quarter valued at about $102,000. Algert Global LLC increased its stake in shares of Hawaiian Electric Industries by 23.8% during the 1st quarter. Algert Global LLC now owns 283,675 shares of the utilities provider's stock worth $3,106,000 after purchasing an additional 54,579 shares in the last quarter. Ethos Financial Group LLC purchased a new position in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $690,000. American Century Companies Inc. increased its stake in shares of Hawaiian Electric Industries by 19.8% during the 1st quarter. American Century Companies Inc. now owns 267,865 shares of the utilities provider's stock worth $2,933,000 after purchasing an additional 44,205 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Hawaiian Electric Industries by 54.4% during the 1st quarter. Russell Investments Group Ltd. now owns 6,976 shares of the utilities provider's stock worth $76,000 after purchasing an additional 2,457 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HE has been the subject of a number of recent research reports. Jefferies Financial Group raised their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research note on Wednesday, May 28th. Barclays dropped their price objective on shares of 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, Wall Street Zen raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Four research 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, Hawaiian Electric Industries currently has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Stock Up 0.2%

Shares of NYSE HE opened at $11.39 on Friday. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $13.77. The firm's 50 day moving average price is $10.77 and its 200 day moving average price is $10.57. The firm has a market cap of $1.97 billion, a P/E ratio of -11.28 and a beta of 0.64. 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 (NYSE:HE - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 firm had revenue of $746.39 million for the quarter. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hawaiian Electric Industries 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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