Jupiter Topco LLC Purchases New Position in Hawaiian Electric Industries, Inc. $HE

Jupiter Topco LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 74,286 shares of the utilities provider’s stock, valued at approximately $1,005,000.

Several other institutional investors also recently bought and sold shares of the company. Navalign LLC bought a new stake in Hawaiian Electric Industries during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd grew its position in shares of Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,998 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after buying an additional 1,365 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,940 shares during the period. Finally, Tucker Asset Management LLC purchased a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at $32,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Jefferies Financial Group lowered their price objective on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a research note on Monday, July 6th. Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Barclays reduced their price target on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $11.88.

Hawaiian Electric Industries Trading Down 0.1%

HE opened at $11.08 on Friday. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 8.52 and a beta of 0.48. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. Hawaiian Electric Industries, Inc. has a 12 month low of $10.79 and a 12 month high of $17.38. The stock has a fifty day moving average price of $12.57 and a 200-day moving average price of $13.87.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. The company had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. During the same period in the previous year, the business earned $0.15 EPS. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current fiscal year.

Hawaiian Electric Industries Company 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.