120,680 Shares in Hawaiian Electric Industries, Inc. $HE Acquired by Caprock Group LLC

Caprock Group LLC acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 120,680 shares of the utilities provider’s stock, valued at approximately $1,332,000. Caprock Group LLC owned approximately 0.07% of Hawaiian Electric Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of HE. SJS Investment Consulting Inc. acquired a new position in shares of Hawaiian Electric Industries in the third quarter valued at about $46,000. Farther Finance Advisors LLC grew its position 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 worth $46,000 after purchasing an additional 1,125 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Hawaiian Electric Industries by 78.9% during the second 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 period. State of Alaska Department of Revenue bought a new position in shares of Hawaiian Electric Industries during the third quarter worth approximately $62,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Hawaiian Electric Industries in the third quarter valued at approximately $66,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 3.2%

Shares of Hawaiian Electric Industries stock opened at $16.82 on Friday. The firm’s 50 day moving average is $13.89 and its 200 day moving average is $12.39. The firm has a market capitalization of $2.90 billion, a PE ratio of 210.19 and a beta of 0.63. Hawaiian Electric Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.38. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HE shares. Barclays raised their price objective on Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.00.

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.