Ieq Capital LLC Takes $2.34 Million Position in Hawaiian Electric Industries, Inc. $HE

Ieq Capital LLC bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 173,001 shares of the utilities provider’s stock, valued at approximately $2,341,000. Ieq Capital LLC owned approximately 0.10% of Hawaiian Electric Industries as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 1,998 shares during the last quarter. Navalign LLC bought a new position in shares of Hawaiian Electric Industries in the fourth quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. raised its stake in Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,365 shares in the last quarter. Tucker Asset Management LLC purchased a new stake in Hawaiian Electric Industries in the fourth quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its position in Hawaiian Electric Industries by 334.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,983 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Down 0.3%

NYSE:HE opened at $11.37 on Wednesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 8.75 and a beta of 0.50. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57. The company has a fifty day moving average of $12.87 and a 200 day moving average of $14.16. Hawaiian Electric Industries, Inc. has a 52 week low of $10.79 and a 52 week high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The firm had revenue of $939.70 million during the quarter, compared to analysts’ expectations of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same quarter in the previous year, the firm posted $0.15 EPS. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Barclays dropped their price target on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 11th. Jefferies Financial Group decreased their price objective 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. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $11.88.

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.