Kestra Private Wealth Services LLC Acquires New Position in Hawaiian Electric Industries, Inc. $HE

Kestra Private Wealth Services LLC acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,207 shares of the utilities provider’s stock, valued at approximately $849,000.

Other large investors have also recently modified their holdings of the company. Comerica Bank lifted its stake in shares of Hawaiian Electric Industries by 45.0% during the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock valued at $67,000 after buying an additional 1,886 shares in the last quarter. Royal Bank of Canada raised its holdings in Hawaiian Electric Industries by 51.9% during the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock valued at $4,159,000 after acquiring an additional 129,819 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hawaiian Electric Industries by 16.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 17,158 shares during the period. Empowered Funds LLC lifted its position in shares of Hawaiian Electric Industries by 12.9% during the first quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 3,060 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Hawaiian Electric Industries by 36.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock worth $5,380,000 after acquiring an additional 132,321 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.9%

Shares of Hawaiian Electric Industries stock opened at $13.41 on Thursday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. Hawaiian Electric Industries, Inc. has a 1 year low of $10.45 and a 1 year high of $17.38. The firm has a market cap of $2.31 billion, a PE ratio of 18.12 and a beta of 0.49. The company has a 50 day simple moving average of $13.84 and a two-hundred day simple moving average of $14.38.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 earnings per share 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 company had revenue of $746.45 million for the quarter, compared to analysts’ expectations of $746.45 million. Analysts expect that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 15th. Barclays cut their target price on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, June 25th. Wall Street Zen lowered Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Zacks Research cut Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $12.75.

Hawaiian Electric Industries Profile

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.