Comerica Bank Raises Stake in Hawaiian Electric Industries, Inc. $HE

Comerica Bank boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 641.8% in the fourth quarter, HoldingsChannel reports. The fund owned 42,868 shares of the utilities provider’s stock after acquiring an additional 37,089 shares during the period. Comerica Bank’s holdings in Hawaiian Electric Industries were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC increased its stake in Hawaiian Electric Industries by 5.9% during the 4th quarter. Venturi Wealth Management LLC now owns 15,714 shares of the utilities provider’s stock valued at $193,000 after purchasing an additional 871 shares in the last quarter. Federated Hermes Inc. increased its stake in Hawaiian Electric Industries by 1.3% during the 2nd quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock valued at $775,000 after purchasing an additional 910 shares in the last quarter. CWM LLC increased its stake in Hawaiian Electric Industries by 41.3% during the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 939 shares in the last quarter. RFG Bristol Wealth Advisors LLC increased its stake in Hawaiian Electric Industries by 3.3% during the 4th quarter. RFG Bristol Wealth Advisors LLC now owns 38,110 shares of the utilities provider’s stock valued at $469,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in Hawaiian Electric Industries by 6.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 20,217 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 1,280 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $13.50 on Wednesday. The firm has a 50 day moving average of $15.09 and a 200 day moving average of $13.93. The company has a current ratio of 1.34, a quick ratio of 1.32 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.24 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a 12-month low of $10.14 and a 12-month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.09). Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. The firm had revenue of $746.45 million for the quarter, compared to analysts’ expectations of $746.45 million. On average, research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Barclays boosted their price objective on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Zacks Research cut shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hawaiian Electric Industries currently has a consensus rating of “Reduce” and an average price target of $13.25.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.