HighTower Advisors LLC Takes $108,000 Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

HighTower Advisors LLC acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 11,270 shares of the utilities provider’s stock, valued at approximately $108,000.

Other large investors have also bought and sold shares of the company. KBC Group NV grew its stake in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the last quarter. UMB Bank n.a. acquired a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at $42,000. Signaturefd LLC grew its position in 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 acquiring an additional 1,986 shares during the last quarter. Quest Partners LLC increased its holdings in Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 4,453 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new position in Hawaiian Electric Industries in the second quarter valued at about $91,000. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock opened at $9.91 on Friday. The stock’s 50 day moving average is $10.22 and its 200 day moving average is $11.07. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The firm has a market cap of $1.71 billion, a P/E ratio of -0.84 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm had revenue of $983.38 million during the quarter. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target on the stock. Evercore ISI decreased their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th.

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.