Wealth Enhancement Advisory Services LLC Purchases Shares of 30,432 Hawaiian Electric Industries, Inc. $HE

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 30,432 shares of the utilities provider’s stock, valued at approximately $344,000.

Several other institutional investors have also modified their holdings of HE. Farther Finance Advisors LLC grew its holdings in Hawaiian Electric Industries by 37.5% during the third quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 1,125 shares during the period. SJS Investment Consulting Inc. bought a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $46,000. Ameritas Advisory Services LLC acquired a new position in shares of Hawaiian Electric Industries in the 2nd quarter worth approximately $47,000. Allworth Financial LP grew its stake in shares of Hawaiian Electric Industries by 78.9% in the 2nd quarter. Allworth Financial LP now owns 4,605 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 2,031 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

HE has been the topic of several recent research reports. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Barclays lifted their target price on Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $13.00.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $17.06 on Monday. The company’s fifty day moving average is $13.34 and its two-hundred day moving average is $12.19. The company has a market cap of $2.94 billion, a P/E ratio of 213.25 and a beta of 0.63. Hawaiian Electric Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $17.38. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share 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%. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

About Hawaiian Electric Industries

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.