Quantinno Capital Management LP Has $52.13 Million Holdings in Hawaiian Electric Industries, Inc. $HE

Quantinno Capital Management LP raised its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 8.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,512,517 shares of the utilities provider’s stock after buying an additional 270,546 shares during the quarter. Quantinno Capital Management LP’s holdings in Hawaiian Electric Industries were worth $52,126,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in shares of Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 737 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Hawaiian Electric Industries by 9.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 816 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Hawaiian Electric Industries by 5.9% during the fourth quarter. Venturi Wealth Management LLC now owns 15,714 shares of the utilities provider’s stock worth $193,000 after purchasing an additional 871 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Hawaiian Electric Industries by 1.3% in the 2nd quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock valued at $775,000 after buying an additional 910 shares in the last quarter. Finally, Xponance LLC increased its position in shares of Hawaiian Electric Industries by 5.7% in the 4th quarter. Xponance LLC now owns 17,022 shares of the utilities provider’s stock valued at $209,000 after buying an additional 918 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group reduced their target price on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a report on Monday, July 6th. Wall Street Zen lowered Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Barclays cut their price objective on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, June 25th. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 20th. Finally, Zacks Research cut Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $12.38.

Hawaiian Electric Industries Price Performance

HE stock opened at $13.06 on Thursday. The stock has a 50-day moving average price of $13.40 and a two-hundred day moving average price of $14.54. The stock has a market cap of $2.25 billion, a PE ratio of 17.65 and a beta of 0.49. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. Hawaiian Electric Industries, Inc. has a 1 year low of $10.60 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The firm had revenue of $746.45 million during the quarter, compared to the consensus estimate of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. Equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current fiscal year.

Hawaiian Electric Industries Company Profile

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.