Cetera Investment Advisers Increases Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Cetera Investment Advisers increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 41.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 50,821 shares of the utilities provider’s stock after acquiring an additional 14,871 shares during the quarter. Cetera Investment Advisers’ holdings in Hawaiian Electric Industries were worth $556,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Hawaiian Electric Industries in the 1st quarter worth about $160,000. Y Intercept Hong Kong Ltd purchased a new stake in Hawaiian Electric Industries in the 1st quarter worth about $237,000. Allianz Asset Management GmbH increased its holdings in Hawaiian Electric Industries by 52.1% in the 1st quarter. Allianz Asset Management GmbH now owns 1,133,574 shares of the utilities provider’s stock worth $12,413,000 after acquiring an additional 388,334 shares during the last quarter. Foundry Partners LLC purchased a new stake in Hawaiian Electric Industries in the 1st quarter worth about $6,905,000. Finally, Apollon Wealth Management LLC grew its holdings in Hawaiian Electric Industries by 48.5% during the 1st quarter. Apollon Wealth Management LLC now owns 14,923 shares of the utilities provider’s stock valued at $163,000 after buying an additional 4,871 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Up 0.2%

HE stock opened at $11.39 on Friday. Hawaiian Electric Industries, Inc. has a twelve month low of $8.14 and a twelve month high of $13.77. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $1.97 billion, a PE ratio of -11.28 and a beta of 0.64. The stock has a 50-day simple moving average of $10.77 and a two-hundred day simple moving average of $10.57.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on HE shares. Wall Street Zen raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Jefferies Financial Group lifted their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a report on Wednesday, May 28th. Finally, Barclays reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus 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.