CSM Advisors LLC Acquires 53,496 Shares of Hawaiian Electric Industries, Inc. $HE

CSM Advisors LLC increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 10.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 565,303 shares of the utilities provider’s stock after buying an additional 53,496 shares during the quarter. CSM Advisors LLC owned 0.33% of Hawaiian Electric Industries worth $6,243,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC raised its position 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 worth $173,075,000 after acquiring an additional 3,624,709 shares during the period. JPMorgan Chase & Co. grew its position in shares of Hawaiian Electric Industries by 153.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock valued at $13,726,000 after acquiring an additional 753,549 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Hawaiian Electric Industries by 180.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock worth $9,696,000 after purchasing an additional 565,218 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Hawaiian Electric Industries by 56.0% during the 2nd quarter. Quantinno Capital Management LP now owns 1,324,999 shares of the utilities provider’s stock worth $14,085,000 after purchasing an additional 475,443 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in shares of Hawaiian Electric Industries by 110.3% in the 2nd quarter. Edgestream Partners L.P. now owns 810,140 shares of the utilities provider’s stock worth $8,612,000 after purchasing an additional 424,885 shares during the period. Institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Zacks Research upgraded Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Barclays upped their price objective on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $13.25.

Hawaiian Electric Industries Stock Down 0.5%

Shares of NYSE HE opened at $14.67 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. The company has a market cap of $2.53 billion, a P/E ratio of 20.66 and a beta of 0.62. Hawaiian Electric Industries, Inc. has a 52 week low of $9.06 and a 52 week high of $17.38. The business has a 50-day simple moving average of $15.31 and a two-hundred day simple moving average of $12.98.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The firm had revenue of $805.82 million for the quarter. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal 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.