Moors & Cabot Inc. Increases Stake in Hawaiian Electric Industries, Inc. $HE

Moors & Cabot Inc. lifted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 67.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 378,732 shares of the utilities provider’s stock after purchasing an additional 153,070 shares during the period. Moors & Cabot Inc.’s holdings in Hawaiian Electric Industries were worth $4,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at about $453,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Hawaiian Electric Industries by 9.9% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 123,199 shares of the utilities provider’s stock valued at $1,360,000 after purchasing an additional 11,143 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares during the last quarter. JCP Investment Management LLC purchased a new position in Hawaiian Electric Industries during the third quarter worth approximately $3,974,000. Finally, Focus Partners Wealth acquired a new position in Hawaiian Electric Industries during the third quarter worth $255,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Up 0.7%

Shares of NYSE:HE opened at $14.79 on Tuesday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 20.82 and a beta of 0.62. Hawaiian Electric Industries, Inc. has a 12-month low of $9.06 and a 12-month high of $17.38. The business has a 50-day moving average price of $15.35 and a 200 day moving average price of $13.00. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.74.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $805.82 million for the quarter. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. Sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HE shares. Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their target price for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Barclays boosted their price target on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Zacks Research upgraded shares of Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $13.25.

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.