Vident Advisory LLC Buys Shares of 21,311 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 position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,311 shares of the utilities provider's stock, valued at approximately $233,000.

Several other hedge funds also recently added to or reduced their stakes in HE. Allworth Financial LP increased its position in 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 buying 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 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock valued at $38,000 after buying an additional 3,380 shares in the last quarter. Comerica Bank increased its position in Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after buying an additional 1,715 shares in the last quarter. Byrne Asset Management LLC increased its position in Hawaiian Electric Industries by 34.0% during the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after buying an additional 987 shares in the last quarter. Finally, US Bancorp DE increased its position in Hawaiian Electric Industries by 51.2% during the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,453 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Down 0.3%

Shares of HE opened at $11.85 on Wednesday. Hawaiian Electric Industries, Inc. has a 52 week low of $8.14 and a 52 week high of $13.41. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -11.73 and a beta of 0.69. The stock's 50-day moving average price is $11.33 and its 200-day moving average price is $10.83.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.20 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 company had revenue of $746.39 million during the quarter. On average, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Barclays reduced their target price 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 upped their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Hawaiian Electric Industries currently has an average 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.

Want to see what other hedge funds are holding HE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.