UMB Bank n.a. Acquires Shares of 4,355 Hawaiian Electric Industries, Inc. (NYSE:HE)

UMB Bank n.a. acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 4,355 shares of the utilities provider’s stock, valued at approximately $42,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $402,000. Wellington Management Group LLP purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $2,370,000. PNC Financial Services Group Inc. boosted its stake in shares of Hawaiian Electric Industries by 44.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,601 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 4,515 shares in the last quarter. Quadrature Capital Ltd boosted its stake in shares of Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock worth $2,241,000 after acquiring an additional 22,363 shares in the last quarter. Finally, Alaska Permanent Fund Corp boosted its stake in shares of Hawaiian Electric Industries by 150.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 137,406 shares of the utilities provider’s stock worth $1,549,000 after acquiring an additional 82,442 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

HE stock opened at $10.11 on Tuesday. The stock’s 50 day moving average price is $11.45 and its 200 day moving average price is $11.23. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $1.12 billion, a P/E ratio of 5.98 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HE shares. Wells Fargo & Company reduced their target price on 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. Evercore ISI reduced their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. Finally, StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th.

Hawaiian Electric Industries 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.