12 West Capital Management LP Buys New Shares in Hawaiian Electric Industries, Inc. $HE

12 West Capital Management LP bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,850,000 shares of the utilities provider’s stock, valued at approximately $22,755,000. Hawaiian Electric Industries makes up approximately 2.7% of 12 West Capital Management LP’s holdings, making the stock its 12th biggest position.

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

Analyst Ratings Changes

HE has been the subject of a number of research reports. Zacks Research lowered shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Barclays upped their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings downgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Two equities research 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 stock currently has an average rating of “Reduce” and an average target price of $13.25.

Hawaiian Electric Industries Trading Down 2.8%

Shares of HE opened at $13.09 on Thursday. Hawaiian Electric Industries, Inc. has a twelve month low of $10.20 and a twelve month high of $17.38. The company has a market cap of $2.26 billion, a P/E ratio of 17.69 and a beta of 0.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. The company’s fifty day simple moving average is $14.30 and its 200-day simple moving average is $14.26.

Hawaiian Electric Industries (NYSE:HE) last announced 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). 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 during the quarter, compared to analysts’ expectations of $746.45 million. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current year.

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.