Atlas Wealth Partners LLC Buys 65,227 Shares of Hawaiian Electric Industries, Inc. $HE

Atlas Wealth Partners LLC boosted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 365.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,077 shares of the utilities provider’s stock after purchasing an additional 65,227 shares during the period. Hawaiian Electric Industries comprises 0.9% of Atlas Wealth Partners LLC’s portfolio, making the stock its 18th largest holding. Atlas Wealth Partners LLC’s holdings in Hawaiian Electric Industries were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Hawaiian Electric Industries by 1.3% in the second quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock worth $775,000 after acquiring an additional 910 shares during the period. Teacher Retirement System of Texas boosted its position in Hawaiian Electric Industries by 4.0% in the second quarter. Teacher Retirement System of Texas now owns 26,142 shares of the utilities provider’s stock worth $278,000 after purchasing an additional 1,005 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Hawaiian Electric Industries by 37.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,125 shares during the period. Panagora Asset Management Inc. increased its position in shares of Hawaiian Electric Industries by 0.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 212,400 shares of the utilities provider’s stock valued at $2,258,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in shares of Hawaiian Electric Industries by 8.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 17,355 shares of the utilities provider’s stock worth $184,000 after purchasing an additional 1,281 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Barclays boosted their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price objective for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $12.50.

Hawaiian Electric Industries Stock Down 2.0%

HE opened at $14.74 on Monday. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 184.19 and a beta of 0.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.35. The firm’s fifty day moving average is $12.48 and its 200 day moving average is $11.83. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.75 and a fifty-two week high of $15.26.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39. The business had revenue of $790.61 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%. On average, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.