Allworth Financial LP Grows Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Allworth Financial LP increased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 379.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,574 shares of the utilities provider’s stock after buying an additional 2,037 shares during the quarter. Allworth Financial LP’s holdings in Hawaiian Electric Industries were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Hawaiian Electric Industries by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 576,286 shares of the utilities provider’s stock worth $6,310,000 after buying an additional 28,239 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Hawaiian Electric Industries in the 1st quarter worth about $126,000. Teacher Retirement System of Texas purchased a new position in shares of Hawaiian Electric Industries in the 1st quarter worth about $275,000. Diversified Trust Co raised its holdings in shares of Hawaiian Electric Industries by 3.2% in the 1st quarter. Diversified Trust Co now owns 42,795 shares of the utilities provider’s stock worth $469,000 after purchasing an additional 1,340 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of Hawaiian Electric Industries by 123.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider’s stock worth $965,000 after purchasing an additional 48,792 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Up 0.8%

Shares of Hawaiian Electric Industries stock opened at $10.74 on Friday. The stock has a 50-day moving average price of $10.64 and a 200 day moving average price of $10.30. The company has a market cap of $1.85 billion, a P/E ratio of -0.83 and a beta of 0.64. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.77. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $17.30.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. The company had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. During the same period last year, the business earned $0.38 earnings per share. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HE. Jefferies Financial Group increased their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a research note on Wednesday, May 28th. Barclays lowered their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.