IMS Capital Management Purchases Shares of 34,222 Hawaiian Electric Industries, Inc. $HE

IMS Capital Management purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 34,222 shares of the utilities provider’s stock, valued at approximately $364,000.

Several other large investors have also recently bought and sold shares of HE. Allworth Financial LP raised its holdings in Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 2,037 shares during the period. Farther Finance Advisors LLC raised its holdings in Hawaiian Electric Industries by 3,797.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 3,380 shares during the period. Byrne Asset Management LLC raised its holdings in Hawaiian Electric Industries by 34.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 987 shares during the period. US Bancorp DE raised its holdings in Hawaiian Electric Industries by 51.2% in the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 1,453 shares during the period. Finally, Versant Capital Management Inc raised its holdings in Hawaiian Electric Industries by 197.6% in the 1st quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 3,102 shares during the period. 59.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HE has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a research note on Wednesday, May 28th. Barclays dropped their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $11.94.

Hawaiian Electric Industries Stock Up 0.1%

Shares of NYSE HE opened at $11.53 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The company has a market cap of $1.99 billion, a price-to-earnings ratio of -11.41 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41. The stock has a 50-day moving average price of $11.57 and a two-hundred day moving average price of $10.91.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The business had revenue of $746.39 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

About Hawaiian Electric Industries

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.