The Manufacturers Life Insurance Company Invests $1.10 Million in Hawaiian Electric Industries, Inc. $HE

The Manufacturers Life Insurance Company acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 81,194 shares of the utilities provider’s stock, valued at approximately $1,099,000.

Other large investors also recently modified their holdings of the company. Comerica Bank increased its stake in Hawaiian Electric Industries by 45.0% in the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after buying an additional 1,886 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Hawaiian Electric Industries by 51.9% in the first quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock valued at $4,159,000 after acquiring an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Hawaiian Electric Industries by 16.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 17,158 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Hawaiian Electric Industries by 12.9% in the first quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock worth $292,000 after acquiring an additional 3,060 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Hawaiian Electric Industries by 36.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock worth $5,380,000 after acquiring an additional 132,321 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.1%

HE opened at $11.08 on Friday. The stock has a 50-day moving average of $12.57 and a 200 day moving average of $13.87. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. Hawaiian Electric Industries, Inc. has a 12 month low of $10.79 and a 12 month high of $17.38. The firm has a market cap of $1.91 billion, a P/E ratio of 8.52 and a beta of 0.48.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The company had revenue of $939.70 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.15 earnings per share. As a group, research analysts forecast that Hawaiian Electric Industries, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on HE shares. Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research note on Monday, July 6th. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Barclays cut their price objective on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target 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.