Cornerstone Capital Management Holdings LLC. lifted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 800.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,965 shares of the utilities provider’s stock after buying an additional 49,749 shares during the period. Cornerstone Capital Management Holdings LLC. owned approximately 0.05% of Hawaiian Electric Industries worth $1,866,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HE. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in Hawaiian Electric Industries during the 2nd quarter valued at approximately $123,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hawaiian Electric Industries by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 297 shares in the last quarter. Ffcm LLC boosted its position in Hawaiian Electric Industries by 121.0% during the 2nd quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 2,642 shares in the last quarter. TLP Group LLC boosted its position in Hawaiian Electric Industries by 818.4% during the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 4,804 shares in the last quarter. Finally, US Bancorp DE boosted its position in Hawaiian Electric Industries by 19.0% during the 2nd quarter. US Bancorp DE now owns 7,291 shares of the utilities provider’s stock valued at $236,000 after acquiring an additional 1,162 shares in the last quarter. Hedge funds and other institutional investors own 49.23% of the company’s stock.
Shares of Hawaiian Electric Industries, Inc. (HE) traded down $0.08 during trading on Friday, reaching $34.41. 297,862 shares of the company traded hands, compared to its average volume of 456,087. The company has a market cap of $3,740.00, a P/E ratio of 21.11, a P/E/G ratio of 3.70 and a beta of 0.50. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. Hawaiian Electric Industries, Inc. has a one year low of $31.71 and a one year high of $38.72.
Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a return on equity of 8.64% and a net margin of 7.14%. The firm had revenue of $673.19 million during the quarter, compared to the consensus estimate of $648.93 million. During the same period in the prior year, the company posted $0.58 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.64 earnings per share for the current fiscal year.
HE has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 13th. Finally, Bank of America initiated coverage on shares of Hawaiian Electric Industries in a report on Tuesday, October 24th. They issued an “underperform” rating and a $34.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.33.
In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of the stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $36.46, for a total transaction of $200,530.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is owned by corporate insiders.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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