Quantbot Technologies LP Takes Position in Hawaiian Electric Industries, Inc. $HE

Quantbot Technologies LP acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 136,376 shares of the utilities provider’s stock, valued at approximately $1,845,000. Quantbot Technologies LP owned about 0.08% of Hawaiian Electric Industries at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Navalign LLC bought a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 1,365 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Hawaiian Electric Industries by 242.2% during the third 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 in the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of Hawaiian Electric Industries during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Trading Down 0.8%

HE stock opened at $11.41 on Tuesday. The company has a market capitalization of $1.97 billion, a PE ratio of 8.78 and a beta of 0.50. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. Hawaiian Electric Industries, Inc. has a one year low of $10.79 and a one year high of $17.38. The company’s 50 day moving average price is $12.91 and its two-hundred day moving average price is $14.20.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The business had revenue of $939.70 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.15 EPS. As a group, analysts predict that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current fiscal 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.