62,097 Shares in Hawaiian Electric Industries, Inc. $HE Acquired by Inscription Capital LLC

Inscription Capital LLC acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 62,097 shares of the utilities provider’s stock, valued at approximately $686,000.

A number of other institutional investors also recently bought and sold shares of the company. Horizon Kinetics Asset Management LLC increased its position in shares of Hawaiian Electric Industries by 28.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock valued at $173,075,000 after buying an additional 3,624,709 shares in the last quarter. Geode Capital Management LLC raised its position in Hawaiian Electric Industries by 1.2% during the second quarter. Geode Capital Management LLC now owns 4,093,753 shares of the utilities provider’s stock worth $43,522,000 after acquiring an additional 48,686 shares during the last quarter. Franklin Resources Inc. raised its position in Hawaiian Electric Industries by 1.3% during the second quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock worth $29,178,000 after acquiring an additional 34,535 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Hawaiian Electric Industries by 3.1% in the second quarter. Bank of America Corp DE now owns 1,489,138 shares of the utilities provider’s stock valued at $15,830,000 after purchasing an additional 45,159 shares in the last quarter. Finally, Quantinno Capital Management LP grew its position in shares of Hawaiian Electric Industries by 56.0% in the second quarter. Quantinno Capital Management LP now owns 1,324,999 shares of the utilities provider’s stock valued at $14,085,000 after purchasing an additional 475,443 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HE. Barclays lifted their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Finally, Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $13.50 to $12.50 in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $12.50.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $14.70 on Thursday. Hawaiian Electric Industries, Inc. has a twelve month low of $8.75 and a twelve month high of $15.05. The business’s 50-day moving average price is $12.35 and its 200 day moving average price is $11.76. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The company has a market capitalization of $2.54 billion, a PE ratio of 183.78 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The business had revenue of $790.61 million for the quarter. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 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.