RBF Capital LLC Cuts Stock Holdings in Hawaiian Electric Industries, Inc. $HE

RBF Capital LLC reduced its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the utilities provider’s stock after selling 70,000 shares during the period. RBF Capital LLC’s holdings in Hawaiian Electric Industries were worth $2,968,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Navalign LLC purchased a new stake in Hawaiian Electric Industries during the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd raised its position in Hawaiian Electric Industries by 199,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares during the period. Larson Financial Group LLC boosted its stake in shares of Hawaiian Electric Industries by 242.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,940 shares during the period. Finally, Tucker Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter worth about $32,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HE. Barclays cut their target price on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 25th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, July 20th. Jefferies Financial Group lowered their price target on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a report on Monday, July 6th. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Zacks Research lowered shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $12.38.

Hawaiian Electric Industries Stock Down 0.9%

Shares of NYSE HE opened at $13.06 on Thursday. The business has a 50-day moving average of $13.40 and a two-hundred day moving average of $14.54. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of 17.65 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 1 year low of $10.60 and a 1 year high of $17.38. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34.

Hawaiian Electric Industries (NYSE:HE) last released 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 business had revenue of $746.45 million during the quarter, compared to analysts’ expectations of $746.45 million. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current fiscal year.

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.