Dockside LLC Purchases Shares of 103,340 Hawaiian Electric Industries, Inc. $HE

Dockside LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 103,340 shares of the utilities provider’s stock, valued at approximately $1,271,000.

Several other hedge funds have also bought and sold shares of HE. State Street Corp grew its holdings in Hawaiian Electric Industries by 56.9% during the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock valued at $86,171,000 after purchasing an additional 2,540,134 shares during the period. Vanguard Group Inc. grew its holdings in Hawaiian Electric Industries by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock valued at $238,747,000 after purchasing an additional 1,628,307 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in Hawaiian Electric Industries by 6.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock valued at $238,526,000 after purchasing an additional 1,134,646 shares during the period. JPMorgan Chase & Co. grew its holdings in Hawaiian Electric Industries by 153.9% during the third quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock valued at $13,726,000 after purchasing an additional 753,549 shares during the period. Finally, Public Sector Pension Investment Board bought a new stake in Hawaiian Electric Industries during the fourth quarter valued at about $7,348,000. Institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HE has been the subject of several recent research reports. Zacks Research lowered Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Weiss Ratings lowered Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays boosted their price target on Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries has an average rating of “Reduce” and an average target price of $13.25.

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock opened at $13.39 on Monday. The stock’s 50-day simple moving average is $14.42 and its 200-day simple moving average is $14.23. Hawaiian Electric Industries, Inc. has a 52 week low of $10.20 and a 52 week high of $17.38. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.09 and a beta of 0.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.70.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate 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. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current fiscal year.

About Hawaiian Electric Industries

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.