74,800 Shares in Hawaiian Electric Industries, Inc. $HE Purchased by T3 Companies LLC

T3 Companies LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, Holdings Channel.com reports. The firm purchased 74,800 shares of the utilities provider’s stock, valued at approximately $920,000. Hawaiian Electric Industries accounts for about 1.2% of T3 Companies LLC’s holdings, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its holdings in shares of Hawaiian Electric Industries by 37.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 737 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Hawaiian Electric Industries by 9.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock valued at $117,000 after buying an additional 816 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Hawaiian Electric Industries by 5.9% during the fourth quarter. Venturi Wealth Management LLC now owns 15,714 shares of the utilities provider’s stock worth $193,000 after buying an additional 871 shares in the last quarter. Federated Hermes Inc. grew its holdings in Hawaiian Electric Industries by 1.3% during the second quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock worth $775,000 after buying an additional 910 shares in the last quarter. Finally, CWM LLC raised its position in Hawaiian Electric Industries by 41.3% in the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock valued at $39,000 after buying an additional 939 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Trading Down 2.7%

Shares of HE stock opened at $13.09 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.70. The firm has a market cap of $2.26 billion, a P/E ratio of 17.69 and a beta of 0.50. The company has a 50 day moving average of $14.49 and a 200-day moving average of $14.20. Hawaiian Electric Industries, Inc. has a 12-month low of $10.20 and a 12-month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. The firm had revenue of $746.45 million during the quarter, compared to analysts’ expectations of $746.45 million. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on HE shares. Weiss Ratings cut Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Barclays boosted their price target on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $13.25.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.