Comerica Bank Increases Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Comerica Bank grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 69.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,189 shares of the utilities provider’s stock after purchasing an additional 1,715 shares during the quarter. Comerica Bank’s holdings in Hawaiian Electric Industries were worth $41,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Barclays PLC boosted its stake in Hawaiian Electric Industries by 48.5% in the 3rd quarter. Barclays PLC now owns 255,618 shares of the utilities provider’s stock worth $2,475,000 after purchasing an additional 83,496 shares during the period. Brookstone Capital Management bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $101,000. Assenagon Asset Management S.A. boosted its position in shares of Hawaiian Electric Industries by 92.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 313,035 shares of the utilities provider’s stock valued at $3,046,000 after acquiring an additional 150,735 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $99,000. Finally, Mad River Investors bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $1,171,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $10.69 on Tuesday. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -0.90 and a beta of 0.64. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The stock’s 50-day moving average is $10.47 and its 200 day moving average is $10.17.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting analysts’ consensus estimates of $0.23. The business had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same period last year, the firm earned $0.38 earnings per share. On average, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HE. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $14.00 in a report on Friday, March 7th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Finally, Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Hawaiian Electric Industries presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Hawaiian Electric Industries Company 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.