Deutsche Bank AG Acquires New Position in Hawaiian Electric Industries, Inc. $HE

Deutsche Bank AG bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 184,024 shares of the utilities provider’s stock, valued at approximately $2,490,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Comerica Bank raised its position in shares of Hawaiian Electric Industries by 45.0% in the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock valued at $67,000 after purchasing an additional 1,886 shares during the period. Royal Bank of Canada grew its stake in Hawaiian Electric Industries by 51.9% in the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock valued at $4,159,000 after buying an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Hawaiian Electric Industries by 16.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock valued at $1,331,000 after buying an additional 17,158 shares in the last quarter. Empowered Funds LLC raised its holdings in Hawaiian Electric Industries by 12.9% during the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock valued at $292,000 after acquiring an additional 3,060 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Hawaiian Electric Industries by 36.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock valued at $5,380,000 after acquiring an additional 132,321 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.3%

Shares of HE opened at $11.46 on Friday. Hawaiian Electric Industries, Inc. has a 1-year low of $10.79 and a 1-year high of $17.38. The company has a market capitalization of $1.98 billion, a P/E ratio of 8.81 and a beta of 0.50. 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 firm’s 50 day simple moving average is $12.81 and its 200 day simple moving average is $14.08.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $939.70 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $0.15 EPS. Sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on HE. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a report on Monday, July 6th. Barclays cut their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 11th. Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has an average rating of “Reduce” and a consensus price target of $11.88.

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.