UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 74,748 Shares of Hawaiian Electric Industries, Inc. $HE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 18.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 475,190 shares of the utilities provider’s stock after purchasing an additional 74,748 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.28% of Hawaiian Electric Industries worth $6,429,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HE. EverSource Wealth Advisors LLC grew its holdings in shares of 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 last quarter. SBI Securities Co. Ltd. raised its holdings in Hawaiian Electric Industries by 9.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock valued at $117,000 after buying an additional 816 shares during the last quarter. Federated Hermes Inc. raised its holdings in Hawaiian Electric Industries by 1.3% during the 2nd quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock valued at $775,000 after buying an additional 910 shares during the last quarter. Xponance LLC boosted its position in Hawaiian Electric Industries by 5.7% during the 4th quarter. Xponance LLC now owns 17,022 shares of the utilities provider’s stock valued at $209,000 after buying an additional 918 shares during the period. Finally, CWM LLC boosted its position in Hawaiian Electric Industries by 41.3% during the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock valued at $39,000 after buying an additional 939 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $10.93 on Wednesday. Hawaiian Electric Industries, Inc. has a 1 year low of $10.76 and a 1 year high of $17.38. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day moving average is $12.46 and its 200 day moving average is $13.77. The stock has a market capitalization of $1.89 billion, a P/E ratio of 8.41 and a beta of 0.48.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data 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 company had revenue of $939.70 million during the quarter, compared to analysts’ expectations of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same quarter last year, the business earned $0.15 earnings per share. On average, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current year.

Hawaiian Electric Industries 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.