Ameriprise Financial Inc. boosted its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 310,956 shares of the utilities provider’s stock after purchasing an additional 4,878 shares during the quarter. Ameriprise Financial Inc. owned about 0.29% of Hawaiian Electric Industries worth $10,376,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in HE. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $123,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Hawaiian Electric Industries by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock valued at $125,000 after buying an additional 297 shares during the period. Ffcm LLC grew its holdings in Hawaiian Electric Industries by 121.0% in the 2nd quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock valued at $157,000 after buying an additional 2,642 shares during the period. TLP Group LLC grew its holdings in Hawaiian Electric Industries by 818.4% in the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock valued at $175,000 after buying an additional 4,804 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $201,000. 49.23% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on HE. Bank of America began coverage on Hawaiian Electric Industries in a report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price target for the company. Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, JPMorgan Chase & Co. boosted their target price on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.33.
In other news, Director Thomas B. Fargo sold 5,500 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.
Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) traded down $0.08 during trading hours on Friday, hitting $34.41. The stock had a trading volume of 297,862 shares, compared to its average volume of 593,411. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.77. Hawaiian Electric Industries, Inc. has a 1-year low of $31.71 and a 1-year high of $38.72. The stock has a market cap of $3,740.00, a PE ratio of 21.11, a P/E/G ratio of 4.50 and a beta of 0.50.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a return on equity of 8.64% and a net margin of 7.14%. The firm had revenue of $673.19 million for the quarter, compared to analysts’ expectations of $648.93 million. During the same quarter in the previous year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. research analysts expect that Hawaiian Electric Industries, Inc. will post 1.64 EPS for the current year.
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Hawaiian Electric Industries Profile
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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