Creative Planning Increases Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Creative Planning grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 203.2% in the second quarter, HoldingsChannel.com reports. The firm owned 70,683 shares of the utilities provider’s stock after buying an additional 47,372 shares during the quarter. Creative Planning’s holdings in Hawaiian Electric Industries were worth $638,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its position in Hawaiian Electric Industries by 31.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after buying an additional 3,156 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Hawaiian Electric Industries during the first quarter valued at about $42,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Hawaiian Electric Industries by 18.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after purchasing an additional 24,328 shares during the period. Vanguard Group Inc. grew its stake in shares of Hawaiian Electric Industries by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after purchasing an additional 160,815 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Hawaiian Electric Industries by 470.4% during the 1st quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 8,890 shares during the period. Institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HE. Wells Fargo & Company cut their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Trading Down 0.7 %

HE opened at $9.73 on Monday. The stock has a market cap of $1.07 billion, a PE ratio of 5.76 and a beta of 0.54. The business has a 50 day moving average of $11.59 and a 200-day moving average of $11.24. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The business had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The company’s revenue was down .2% on a year-over-year basis.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.