Three Seasons Wealth LLC Invests $550,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

Three Seasons Wealth LLC bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,265 shares of the utilities provider’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Hawaiian Electric Industries in the fourth quarter valued at approximately $342,000. Commonwealth Equity Services LLC lifted its stake in Hawaiian Electric Industries by 3.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider’s stock valued at $302,000 after buying an additional 1,080 shares during the period. American Century Companies Inc. lifted its stake in Hawaiian Electric Industries by 3.9% in the fourth quarter. American Century Companies Inc. now owns 223,660 shares of the utilities provider’s stock valued at $2,176,000 after buying an additional 8,426 shares during the period. LPL Financial LLC lifted its stake in Hawaiian Electric Industries by 13.1% in the fourth quarter. LPL Financial LLC now owns 47,444 shares of the utilities provider’s stock valued at $462,000 after buying an additional 5,489 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Hawaiian Electric Industries by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock worth $177,397,000 after purchasing an additional 1,112,150 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $10.91 on Tuesday. The business has a 50-day moving average price of $10.67 and a 200-day moving average price of $10.44. Hawaiian Electric Industries, Inc. has a twelve month low of $8.14 and a twelve month high of $16.89. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -0.85 and a beta of 0.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. The business had revenue of $744.07 million for the quarter. During the same quarter last year, the company earned $0.38 earnings per share. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HE shares. Barclays reduced their price objective 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. Wall Street Zen upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Jefferies Financial Group increased their price target 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. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.