Pekin Hardy Strauss Inc. Buys Shares of 35,000 Hawaiian Electric Industries, Inc. $HE

Pekin Hardy Strauss Inc. purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 35,000 shares of the utilities provider’s stock, valued at approximately $386,000.

A number of other institutional investors and hedge funds have also modified their holdings of HE. Y Intercept Hong Kong Ltd boosted its stake in Hawaiian Electric Industries by 72.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock worth $2,254,000 after acquiring an additional 86,117 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in 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 purchasing an additional 3,624,709 shares in the last quarter. Inspire Advisors LLC acquired a new stake in Hawaiian Electric Industries in the third quarter worth $1,000,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Hawaiian Electric Industries during the third quarter worth $344,000. Finally, Moors & Cabot Inc. grew its holdings in shares of Hawaiian Electric Industries by 119.2% in the 2nd quarter. Moors & Cabot Inc. now owns 225,662 shares of the utilities provider’s stock valued at $2,399,000 after buying an additional 122,737 shares during the period. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Stock Performance

HE opened at $15.86 on Friday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 198.29 and a beta of 0.63. The business’s 50-day moving average price is $14.32 and its two-hundred day moving average price is $12.58. Hawaiian Electric Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.38. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HE. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Jefferies Financial Group lowered Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Barclays lifted their price objective on Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a report on Monday, January 26th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Hold” and an average target price of $13.00.

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.