Janney Montgomery Scott LLC Has $4.66 Million Stock Holdings in Hawaiian Electric Industries, Inc. $HE

Janney Montgomery Scott LLC raised its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 111.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 313,689 shares of the utilities provider’s stock after buying an additional 165,453 shares during the period. Janney Montgomery Scott LLC owned about 0.18% of Hawaiian Electric Industries worth $4,655,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in HE. Aaron Wealth Advisors LLC lifted its stake in shares of Hawaiian Electric Industries by 21.4% during the first quarter. Aaron Wealth Advisors LLC now owns 37,257 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 6,560 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Hawaiian Electric Industries in the first quarter worth about $1,137,000. Kestra Private Wealth Services LLC bought a new stake in Hawaiian Electric Industries during the 1st quarter worth about $849,000. Hsbc Holdings PLC bought a new stake in Hawaiian Electric Industries during the 4th quarter worth about $849,000. Finally, Corient Private Wealth LLC lifted its position in Hawaiian Electric Industries by 101.5% during the 4th quarter. Corient Private Wealth LLC now owns 115,927 shares of the utilities provider’s stock valued at $1,427,000 after purchasing an additional 58,387 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Trading Down 0.1%

NYSE:HE opened at $13.62 on Monday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. Hawaiian Electric Industries, Inc. has a 1-year low of $10.45 and a 1-year high of $17.38. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 18.40 and a beta of 0.49. The business’s 50-day moving average price is $13.78 and its two-hundred day moving average price is $14.41.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 25th. Zacks Research lowered shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 15th. 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.com, the stock has a consensus rating of “Reduce” and a consensus target price of $12.75.

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.