Jefferies Financial Group Inc. Buys New Stake in Hawaiian Electric Industries, Inc. $HE

Jefferies Financial Group Inc. purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the second quarter, HoldingsChannel.com reports. The fund purchased 87,900 shares of the utilities provider’s stock, valued at approximately $1,189,000.

Several other hedge funds have also bought and sold shares of the stock. Navalign LLC bought a new stake in Hawaiian Electric Industries in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Hawaiian Electric Industries by 199,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 1,365 shares in the last quarter. Larson Financial Group LLC increased its holdings in Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,940 shares during the period. Finally, Tucker Asset Management LLC bought a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HE. Barclays lowered their price objective on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 11th. Jefferies Financial Group dropped their price objective on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research note on Monday, July 6th. Zacks Research cut Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries presently has an average rating of “Reduce” and a consensus price target of $11.88.

Hawaiian Electric Industries Trading Up 0.1%

NYSE:HE opened at $11.41 on Monday. Hawaiian Electric Industries, Inc. has a 12 month low of $10.79 and a 12 month high of $17.38. The firm has a fifty day simple moving average of $12.78 and a 200-day simple moving average of $14.04. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $1.97 billion, a P/E ratio of 8.78 and a beta of 0.50.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $939.70 million during the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same period in the previous year, the company earned $0.15 earnings per share. On average, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current year.

About Hawaiian Electric Industries

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.