Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Bought by IMS Capital Management

IMS Capital Management lifted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 2.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,957 shares of the utilities provider’s stock after buying an additional 1,257 shares during the quarter. IMS Capital Management’s holdings in Hawaiian Electric Industries were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in Hawaiian Electric Industries during the first quarter worth approximately $32,000. Abich Financial Wealth Management LLC lifted its position in Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Hawaiian Electric Industries during the first quarter worth $42,000. Signaturefd LLC increased its stake in shares of Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Hawaiian Electric Industries by 82.3% in the 2nd quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 4,308 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HE. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th. Evercore ISI lowered their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Finally, Wells Fargo & Company cut their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $9.68 on Tuesday. The stock has a market capitalization of $1.07 billion, a PE ratio of 5.73 and a beta of 0.55. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a 50 day moving average price of $12.94 and a two-hundred day moving average price of $11.34. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s quarterly revenue was down .2% on a year-over-year basis.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.