Vident Advisory LLC Invests $233,000 in Hawaiian Electric Industries, Inc. $HE

Key Points

• Vident Advisory LLC has acquired a new position in Hawaiian Electric Industries, purchasing 21,311 shares valued at approximately $233,000 in the first quarter.
• Hawaiian Electric Industries recently reported $0.20 EPS for the quarter, missing analysts' expectations of $0.24, with revenue of $746.39 million.
• Institutional investors and hedge funds own 59.91% of Hawaiian Electric Industries' stock, reflecting significant interest from larger financial entities.

Vident Advisory LLC acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 21,311 shares of the utilities provider's stock, valued at approximately $233,000.

Other hedge funds and other institutional investors also recently 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 valued at $27,000 after purchasing an additional 2,037 shares during the period. Farther Finance Advisors LLC grew 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 in the last quarter. Byrne Asset Management LLC grew 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 in the last quarter. Comerica Bank grew 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 in the last quarter. Finally, US Bancorp DE grew 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 in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Price Performance

Shares of HE traded up $0.08 during midday trading on Monday, reaching $12.18. The stock had a trading volume of 1,247,249 shares, compared to its average volume of 2,077,592. The company's 50-day moving average is $11.43 and its 200 day moving average is $10.87. Hawaiian Electric Industries, Inc. has a 12-month low of $8.14 and a 12-month high of $13.41. 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 company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -12.05 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings data 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 during the quarter. On average, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

HE has been the subject of several recent analyst reports. Jefferies Financial Group boosted their target price 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. Barclays reduced 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 report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.94.

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.