Wealth Enhancement Advisory Services LLC Makes New $344,000 Investment in 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, HoldingsChannel.com reports. The institutional investor purchased 30,432 shares of the utilities provider’s stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors have also modified their holdings of HE. Federated Hermes Inc. boosted its position in Hawaiian Electric Industries by 1.3% during the second quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock valued at $775,000 after purchasing an additional 910 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Hawaiian Electric Industries by 4.0% during the 2nd 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 in the last quarter. Farther Finance Advisors LLC lifted its holdings 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 buying an additional 1,125 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Hawaiian Electric Industries by 0.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 212,400 shares of the utilities provider’s stock valued at $2,258,000 after buying an additional 1,132 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its holdings in Hawaiian Electric Industries by 8.0% in the second quarter. Evergreen Capital Management LLC now owns 17,355 shares of the utilities provider’s stock worth $184,000 after buying an additional 1,281 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on HE. Barclays lifted their target price on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Finally, Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Hawaiian Electric Industries Stock Performance

NYSE:HE opened at $17.06 on Monday. Hawaiian Electric Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.38. The firm’s fifty day simple moving average is $13.34 and its 200 day simple moving average is $12.19. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $2.94 billion, a PE ratio of 213.25 and a beta of 0.63.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, topping 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 firm had revenue of $790.61 million during the quarter. On average, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current 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.