SG Americas Securities LLC Takes $648,000 Position in Hawaiian Electric Industries, Inc. $HE

SG Americas Securities LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 58,668 shares of the utilities provider’s stock, valued at approximately $648,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC grew its stake in shares of Hawaiian Electric Industries by 28.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock valued at $173,075,000 after acquiring an additional 3,624,709 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Hawaiian Electric Industries by 180.6% in the third quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after purchasing an additional 565,218 shares during the last quarter. Moors & Cabot Inc. boosted its holdings in Hawaiian Electric Industries by 119.2% in the second quarter. Moors & Cabot Inc. now owns 225,662 shares of the utilities provider’s stock valued at $2,399,000 after purchasing an additional 122,737 shares during the last quarter. CSM Advisors LLC acquired a new stake in Hawaiian Electric Industries during the 2nd quarter valued at approximately $5,440,000. Finally, Franklin Resources Inc. increased its holdings in Hawaiian Electric Industries by 1.3% during the 2nd quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock worth $29,178,000 after purchasing an additional 34,535 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

HE stock opened at $15.04 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The firm has a market cap of $2.60 billion, a P/E ratio of 188.00 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 12-month low of $8.75 and a 12-month high of $15.26. The stock’s 50 day simple moving average is $12.42 and its 200 day simple moving average is $11.78.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The firm had revenue of $790.61 million during the quarter. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on HE. Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their target price for the company from $13.50 to $12.50 in a research note on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Finally, Barclays upped their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, January 15th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $12.50.

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.