Janney Montgomery Scott LLC Purchases 165,453 Shares of Hawaiian Electric Industries, Inc. $HE

Janney Montgomery Scott LLC increased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 111.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 313,689 shares of the utilities provider’s stock after acquiring an additional 165,453 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Hawaiian Electric Industries were worth $4,655,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HE. Moors & Cabot Inc. lifted its stake in Hawaiian Electric Industries by 67.8% in the 3rd quarter. Moors & Cabot Inc. now owns 378,732 shares of the utilities provider’s stock valued at $4,181,000 after acquiring an additional 153,070 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Hawaiian Electric Industries by 1,548.0% during the 4th quarter. State of Alaska Department of Revenue now owns 93,573 shares of the utilities provider’s stock worth $1,150,000 after acquiring an additional 87,895 shares in the last quarter. JCP Investment Management LLC acquired a new stake in shares of Hawaiian Electric Industries in the third quarter valued at approximately $3,974,000. JPMorgan Chase & Co. raised its holdings in shares of Hawaiian Electric Industries by 153.9% in 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 last quarter. Finally, Yousif Capital Management LLC bought a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $569,000. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Stock Down 0.1%

Hawaiian Electric Industries stock opened at $13.62 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. The company’s 50-day moving average is $13.78 and its 200-day moving average is $14.41. The firm has a market capitalization of $2.35 billion, a PE ratio of 18.40 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.45 and a fifty-two week high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.09). The firm had revenue of $746.45 million during the quarter, compared to analyst estimates of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 15th. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Wall Street Zen cut Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays lowered their target price on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $12.75.

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.