Inspire Advisors LLC Purchases Shares of 90,570 Hawaiian Electric Industries, Inc. $HE

Inspire Advisors LLC acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the third quarter, HoldingsChannel reports. The institutional investor acquired 90,570 shares of the utilities provider’s stock, valued at approximately $1,000,000.

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

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock opened at $14.44 on Tuesday. The company’s fifty day simple moving average is $12.23 and its two-hundred day simple moving average is $11.72. Hawaiian Electric Industries, Inc. has a 12-month low of $8.75 and a 12-month high of $15.05. The firm has a market cap of $2.49 billion, a PE ratio of 180.50 and a beta of 0.64. 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 announced its 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. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The business had revenue of $790.61 million during the quarter. As a group, equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on HE shares. Jefferies Financial Group restated a “hold” rating on shares of Hawaiian Electric Industries in a research report on Friday, December 19th. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Finally, Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.38.

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.