Inspire Investing LLC Raises Stock Holdings in Hawaiian Electric Industries, Inc. $HE

Inspire Investing LLC grew its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,948 shares of the utilities provider’s stock after acquiring an additional 5,737 shares during the quarter. Inspire Investing LLC’s holdings in Hawaiian Electric Industries were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC lifted its position in shares of Hawaiian Electric Industries by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider’s stock valued at $742,000 after acquiring an additional 49,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Hawaiian Electric Industries by 123.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider’s stock valued at $965,000 after acquiring an additional 48,792 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Hawaiian Electric Industries by 1.1% in the first quarter. Rhumbline Advisers now owns 257,191 shares of the utilities provider’s stock valued at $2,816,000 after acquiring an additional 2,877 shares in the last quarter. Optimize Financial Inc purchased a new stake in shares of Hawaiian Electric Industries in the first quarter valued at $261,000. Finally, Arizona State Retirement System lifted its position in shares of Hawaiian Electric Industries by 3.7% in the first quarter. Arizona State Retirement System now owns 49,470 shares of the utilities provider’s stock valued at $542,000 after acquiring an additional 1,771 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HE. Barclays reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.94.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $11.02 on Tuesday. The stock’s 50-day moving average is $11.67 and its 200-day moving average is $10.92. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -10.91 and a beta of 0.66. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The firm had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. Equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.