Dockside LLC Makes New $1.27 Million Investment in Hawaiian Electric Industries, Inc. $HE

Dockside LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 103,340 shares of the utilities provider’s stock, valued at approximately $1,271,000. Dockside LLC owned approximately 0.06% of Hawaiian Electric Industries at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of HE. Comerica Bank increased its holdings in shares of Hawaiian Electric Industries by 45.0% in the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,886 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Hawaiian Electric Industries by 51.9% in the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock worth $4,159,000 after purchasing an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Hawaiian Electric Industries by 16.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 17,158 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Hawaiian Electric Industries by 12.9% in the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 3,060 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Hawaiian Electric Industries by 36.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 132,321 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $13.39 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. Hawaiian Electric Industries, Inc. has a one year low of $10.20 and a one year high of $17.38. The firm has a market capitalization of $2.31 billion, a P/E ratio of 18.09 and a beta of 0.50. The business has a fifty day moving average of $14.42 and a 200 day moving average of $14.23.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). Hawaiian Electric Industries had a return on equity of 9.03% and a net margin of 4.19%.The firm had revenue of $746.45 million during the quarter, compared to the consensus estimate of $746.45 million. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current year.

Analysts Set New Price Targets

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

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.