Hawaiian Electric Industries, Inc. $HE Shares Bought by Byrne Asset Management LLC

Byrne Asset Management LLC raised its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 28.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,981 shares of the utilities provider’s stock after acquiring an additional 1,094 shares during the quarter. Byrne Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $53,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its position in Hawaiian Electric Industries by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider’s stock valued at $742,000 after acquiring an additional 49,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Hawaiian Electric Industries by 123.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 48,792 shares in the last quarter. Rhumbline Advisers grew its position in Hawaiian Electric Industries by 1.1% in the first quarter. Rhumbline Advisers now owns 257,191 shares of the utilities provider’s stock valued at $2,816,000 after acquiring an additional 2,877 shares in the last quarter. Arizona State Retirement System grew its position in Hawaiian Electric Industries by 3.7% in the first quarter. Arizona State Retirement System now owns 49,470 shares of the utilities provider’s stock valued at $542,000 after acquiring an additional 1,771 shares in the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Hawaiian Electric Industries during the first quarter worth approximately $261,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

HE stock opened at $12.10 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -11.98 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $13.41. The stock’s fifty day moving average is $11.45 and its two-hundred day moving average is $10.88.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group raised their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.94.

About Hawaiian Electric Industries

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.