Sei Investments Co. Has $12.23 Million Holdings in Hawaiian Electric Industries, Inc. $HE

Sei Investments Co. increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 66.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 824,270 shares of the utilities provider’s stock after acquiring an additional 329,725 shares during the quarter. Sei Investments Co. owned about 0.48% of Hawaiian Electric Industries worth $12,232,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its position in shares of Hawaiian Electric Industries by 56.9% in the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock valued at $86,171,000 after purchasing an additional 2,540,134 shares during the last quarter. 12 West Capital Management LP bought a new stake in Hawaiian Electric Industries during the 4th quarter valued at approximately $22,755,000. Vanguard Group Inc. boosted its stake in 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 period. Horizon Kinetics Asset Management LLC grew its holdings in Hawaiian Electric Industries by 6.2% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock valued at $238,526,000 after buying an additional 1,134,646 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new position in Hawaiian Electric Industries in the 4th quarter worth approximately $7,348,000. 59.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HE has been the subject of a number of research analyst reports. Zacks Research lowered Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a report on Monday, July 6th. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $12.38.

Hawaiian Electric Industries Stock Down 2.1%

HE opened at $12.91 on Friday. The company has a market capitalization of $2.23 billion, a P/E ratio of 17.45 and a beta of 0.49. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s fifty day moving average price is $13.38 and its two-hundred day moving average price is $14.52. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $746.45 million during the quarter, compared to analyst estimates of $746.45 million. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current year.

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.