Hawaiian Electric Industries, Inc. $HE Stock Position Raised by Moors & Cabot Inc.

Moors & Cabot Inc. lifted its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 459,651 shares of the utilities provider’s stock after buying an additional 80,919 shares during the quarter. Moors & Cabot Inc. owned about 0.27% of Hawaiian Electric Industries worth $5,654,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HE. Y Intercept Hong Kong Ltd raised its stake in shares of Hawaiian Electric Industries by 72.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock valued at $2,254,000 after acquiring an additional 86,117 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Hawaiian Electric Industries during the third quarter worth approximately $344,000. Caprock Group LLC acquired a new position in Hawaiian Electric Industries during the third quarter valued at approximately $1,332,000. JPMorgan Chase & Co. raised its position in shares of Hawaiian Electric Industries by 153.9% in the third quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock valued at $13,726,000 after purchasing an additional 753,549 shares during the period. Finally, State of Alaska Department of Revenue lifted its stake in shares of Hawaiian Electric Industries by 1,548.0% in the fourth quarter. State of Alaska Department of Revenue now owns 93,573 shares of the utilities provider’s stock worth $1,150,000 after buying an additional 87,895 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HE shares. Barclays raised their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Wall Street Zen downgraded Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Zacks Research cut Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Hawaiian Electric Industries has a consensus rating of “Reduce” and an average price target of $13.25.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $13.53 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 18.29 and a beta of 0.54. The company’s fifty day moving average is $14.70 and its two-hundred day moving average is $14.08. Hawaiian Electric Industries, Inc. has a 52-week low of $10.15 and a 52-week high of $17.38.

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