Hawaiian Electric Industries, Inc. $HE Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 38.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 718,540 shares of the utilities provider’s stock after buying an additional 200,809 shares during the quarter. Legal & General Group Plc owned 0.42% of Hawaiian Electric Industries worth $8,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of HE. Navalign LLC acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at $25,000. Northwestern Mutual Wealth Management Co. grew its stake in Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,365 shares in the last quarter. Larson Financial Group LLC grew its stake in Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,940 shares in the last quarter. Tucker Asset Management LLC acquired a new position in Hawaiian Electric Industries during the 4th quarter worth $32,000. Finally, EverSource Wealth Advisors LLC grew its stake in Hawaiian Electric Industries by 37.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 737 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HE has been the subject of several analyst reports. Zacks Research cut Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen cut Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Barclays boosted their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings cut Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $13.25.

Hawaiian Electric Industries Stock Up 0.3%

Hawaiian Electric Industries stock opened at $13.43 on Friday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $17.38. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market capitalization of $2.32 billion, a P/E ratio of 18.14 and a beta of 0.50. The stock has a 50-day simple moving average of $14.60 and a 200-day simple moving average of $14.15.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.09). The firm had revenue of $746.45 million during the quarter, compared to analysts’ expectations of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. Equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current year.

Hawaiian Electric Industries Company 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.