Atlas Wealth Partners LLC Invests $190,000 in Hawaiian Electric Industries, Inc. $HE

Atlas Wealth Partners LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,850 shares of the utilities provider’s stock, valued at approximately $190,000.

Several other hedge funds and other institutional investors have also modified their holdings of HE. Teacher Retirement System of Texas acquired a new stake in shares of Hawaiian Electric Industries in the first quarter worth $275,000. Principal Financial Group Inc. acquired a new stake in shares of Hawaiian Electric Industries in the first quarter worth $126,000. Bank of New York Mellon Corp grew its stake in shares of Hawaiian Electric Industries by 5.2% in the first quarter. Bank of New York Mellon Corp now owns 576,286 shares of the utilities provider’s stock worth $6,310,000 after acquiring an additional 28,239 shares during the last quarter. Allworth Financial LP grew its stake in shares of Hawaiian Electric Industries by 379.3% in the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 2,037 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Hawaiian Electric Industries by 12.8% in the first quarter. Xponance Inc. now owns 13,464 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 1,529 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HE shares. Jefferies Financial Group upgraded shares of Hawaiian Electric Industries to a “hold” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research report on Wednesday, October 8th. Finally, Barclays reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of “Hold” and a consensus target price of $11.94.

Hawaiian Electric Industries Stock Up 0.2%

Shares of HE stock opened at $11.59 on Wednesday. The stock has a market cap of $2.00 billion, a P/E ratio of -11.48 and a beta of 0.66. Hawaiian Electric Industries, Inc. has a one year low of $8.14 and a one year high of $13.41. The stock has a fifty day moving average price of $11.72 and a 200 day moving average price of $11.10. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $746.39 million for the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.