UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Holdings in Hawaiian Electric Industries, Inc. $HE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 18.7% in the 2nd quarter, Holdings Channel reports. The fund owned 475,190 shares of the utilities provider’s stock after buying an additional 74,748 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hawaiian Electric Industries were worth $6,429,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of HE. EverSource Wealth Advisors LLC grew its holdings in Hawaiian Electric Industries by 37.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 737 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Hawaiian Electric Industries by 9.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock valued at $117,000 after purchasing an additional 816 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.3% during the second quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock valued at $775,000 after purchasing an additional 910 shares during the last quarter. Xponance LLC lifted its holdings in shares of Hawaiian Electric Industries by 5.7% during the fourth quarter. Xponance LLC now owns 17,022 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 918 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Hawaiian Electric Industries by 41.3% in the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 939 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of HE opened at $10.93 on Wednesday. Hawaiian Electric Industries, Inc. has a twelve month low of $10.76 and a twelve month high of $17.38. The company has a market capitalization of $1.89 billion, a P/E ratio of 8.41 and a beta of 0.48. The firm has a 50 day moving average of $12.46 and a 200 day moving average of $13.77. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $939.70 million for 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 prior year, the business posted $0.15 earnings per share. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HE shares. Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Barclays cut their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Jefferies Financial Group lowered their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a research report on Monday, July 6th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Hawaiian Electric Industries in a research note on Tuesday. They issued a “sell” rating and a $7.00 price target on the stock. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Hawaiian Electric Industries currently has an average rating of “Strong Sell” and a consensus target price of $10.25.

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.