Burney Co. Buys 56,464 Shares of Hawaiian Electric Industries, Inc. $HE

Burney Co. grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 361.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,093 shares of the utilities provider’s stock after buying an additional 56,464 shares during the period. Burney Co.’s holdings in Hawaiian Electric Industries were worth $1,070,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in Hawaiian Electric Industries by 199,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares in the last quarter. Navalign LLC purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Hawaiian Electric Industries by 142.2% in the third 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. Tucker Asset Management LLC bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at $32,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Hawaiian Electric Industries by 334.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,983 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $13.57 on Thursday. The company has a market cap of $2.34 billion, a P/E ratio of 18.34 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 52-week low of $10.45 and a 52-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 firm’s fifty day moving average is $13.66 and its two-hundred day moving average is $14.44.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HE. Weiss Ratings downgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 15th. Jefferies Financial Group decreased their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a report on Monday. Barclays lowered their price objective on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 25th. Zacks Research lowered Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen cut Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of “Reduce” and an average target price 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.