Bleakley Financial Group LLC Purchases Shares of 39,331 Hawaiian Electric Industries, Inc. $HE

Bleakley Financial Group LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 39,331 shares of the utilities provider’s stock, valued at approximately $418,000.

Other institutional investors have also modified their holdings of the company. Allworth Financial LP raised its position in shares of Hawaiian Electric Industries by 379.3% in the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock valued at $27,000 after buying an additional 2,037 shares during the last quarter. US Bancorp DE raised its position in shares of Hawaiian Electric Industries by 51.2% in the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,453 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Hawaiian Electric Industries in the second quarter valued at approximately $47,000. Byrne Asset Management LLC raised its position in shares of Hawaiian Electric Industries by 28.1% in the second quarter. Byrne Asset Management LLC now owns 4,981 shares of the utilities provider’s stock valued at $53,000 after buying an additional 1,094 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Hawaiian Electric Industries by 45.0% in the first 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 during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analysts Set New Price Targets

HE has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research report on Saturday. Jefferies Financial Group raised shares of Hawaiian Electric Industries to a “hold” rating in a research report on Wednesday, October 8th. Finally, Barclays cut their price objective 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. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $11.94.

Hawaiian Electric Industries Stock Performance

Shares of HE stock opened at $11.87 on Monday. Hawaiian Electric Industries, Inc. has a one year low of $8.14 and a one year high of $13.41. 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 company has a 50 day moving average price of $11.74 and a 200 day moving average price of $11.01. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -11.75 and a beta of 0.66.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million for the quarter. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.