Hsbc Holdings PLC Makes New Investment in Hawaiian Electric Industries, Inc. $HE

Hsbc Holdings PLC bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 69,011 shares of the utilities provider’s stock, valued at approximately $849,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moors & Cabot Inc. increased its position in Hawaiian Electric Industries by 67.8% during the third quarter. Moors & Cabot Inc. now owns 378,732 shares of the utilities provider’s stock valued at $4,181,000 after acquiring an additional 153,070 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Hawaiian Electric Industries by 1,548.0% in the fourth quarter. State of Alaska Department of Revenue now owns 93,573 shares of the utilities provider’s stock worth $1,150,000 after purchasing an additional 87,895 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Hawaiian Electric Industries by 153.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock valued at $13,726,000 after purchasing an additional 753,549 shares during the period. Yousif Capital Management LLC bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $569,000. Finally, Vanguard Group Inc. increased its position in shares of Hawaiian Electric Industries by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock valued at $238,747,000 after purchasing an additional 1,628,307 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Trading Down 0.0%

Hawaiian Electric Industries stock opened at $13.49 on Wednesday. The firm has a 50 day moving average of $13.53 and a 200 day moving average of $14.49. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.24 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 12-month low of $10.45 and a 12-month high of $17.38. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70.

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HE shares. Weiss Ratings cut shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 15th. Wall Street Zen lowered shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Zacks Research cut shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Jefferies Financial Group decreased their price target on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research report on Monday, July 6th. Finally, Barclays dropped their price target on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 25th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $12.38.

Hawaiian Electric Industries Company 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.