Kestra Advisory Services LLC increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE – Get Rating) by 50.5% in the third quarter, the company said in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,705 shares of the utility company after purchasing an additional 2,585 shares during the period. Kestra Advisory Services LLC’s interests in Hawaiian Electric Industries were valued at $267,000 at the time of the most recent filing with the Securities and Exchange Commission (SEC).
→ Cash owners are not taking any steps to prepare YET (From Investor Place Media)
Several other institutional investors have also added to or reduced their stakes in HE. Alaska Permanent Fund Corp increased its stake in Hawaiian Electric Industries by 25.7% in the third quarter. Alaska Permanent Fund Corp now owns 192,489 shares of the utility company’s stock valued at $6,672,000 after purchasing an additional 39,316 shares last quarter. MUFG Americas Holdings Corp acquired a new position in Hawaiian Electric Industries valued at approximately $39,000 during the third quarter. International Assets Investment Management LLC increased its stake in Hawaiian Electric Industries by 3.6% in the third quarter. International Assets Investment Management LLC now owns 7,910 shares of the utility worth $274,000 after purchasing an additional 273 shares during the period. New Jersey State’s Common Pension Fund D increased its holding in Hawaiian Electric Industries by 10.7% in the third quarter. New Jersey State’s Common Pension Fund D now owns 69,632 shares of the utility worth $2,413,000 after purchasing an additional 6,758 shares during the period. Finally, Van ECK Associates Corp increased its stake in Hawaiian Electric Industries by 18.3% in the third quarter. Van ECK Associates Corp now owns 24,612 shares of the utility company’s stock valued at $853,000 after purchasing an additional 3,808 shares during the period. Institutional investors own 52.99% of the company’s shares.
Shares of Hawaiian Electric Industries up 1.8%
HE shares opened at $43.04 on Thursday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt to equity ratio of 1.12. Hawaiian Electric Industries, Inc. has a 12-month low of $33.18 and a 12-month high of $44.72. The stock’s 50-day moving average is $41.45 and the two-hundred-day moving average is $39.78. The company has a market cap of $4.71 billion, a P/E of 19.74, a PEG ratio of 7.17, and a beta of 0.39.
Hawaiian Electric Industries (NYSE:HE – Get Rating) last released its quarterly earnings data on Monday, November 7th. The utility reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $1.04 billion for the quarter. Hawaiian Electric Industries had a return on equity of 10.57% and a net margin of 6.88%. Analysts are forecasting that Hawaiian Electric Industries, Inc. will report earnings per share of 2.13 for the current fiscal year.
Wall Street analyst ponders
Several equity analysts have recently issued reports on the stock. Guggenheim lowered its target price on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a report on Monday, October 24. Wells Fargo & Company raised its target price on shares of Hawaiian Electric Industries to $42.00 from $39.00 and listed the stock as “underweight” in a report Tuesday, January 10. StockNews.com began Wednesday, October 12th with a report on shares of Hawaiian Electric Industries. They gave the stock a “hold” rating. Finally, Evercore ISI set a price target of $36.00 for shares of Hawaiian Electric Industries in a report on Thursday, November 24th.
About Hawaiian Electric Industries
Hawaiian Electric Industries, Inc is a holding company engaged in energy, finance and investments in renewable and sustainable infrastructure. It operates through the following segments: Power Supply, Bank and Other. The Electric Utility segment provides basic electrical services on the islands of Oahu, Hawaii, and Maui, Lanai, and Molokai.
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