SG Americas Securities LLC Increases Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

SG Americas Securities LLC raised its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 29.8% in the 4th quarter, Holdings Channel reports. The fund owned 48,475 shares of the utilities provider’s stock after acquiring an additional 11,128 shares during the quarter. SG Americas Securities LLC’s holdings in Hawaiian Electric Industries were worth $472,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC increased its position in Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after purchasing an additional 825,073 shares during the period. The Manufacturers Life Insurance Company raised its position in Hawaiian Electric Industries by 225.3% in the second quarter. The Manufacturers Life Insurance Company now owns 59,640 shares of the utilities provider’s stock worth $538,000 after acquiring an additional 41,305 shares in the last quarter. Creative Planning lifted its holdings in Hawaiian Electric Industries by 203.2% in the second quarter. Creative Planning now owns 70,683 shares of the utilities provider’s stock valued at $638,000 after acquiring an additional 47,372 shares during the period. Truist Financial Corp increased its holdings in shares of Hawaiian Electric Industries by 87.5% in the 2nd quarter. Truist Financial Corp now owns 44,326 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 20,680 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Hawaiian Electric Industries by 236.5% in the third quarter. GAMMA Investing LLC now owns 32,105 shares of the utilities provider’s stock valued at $311,000 after purchasing an additional 22,565 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $9.18 on Friday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -0.78 and a beta of 0.53. The stock has a fifty day moving average of $9.65 and a two-hundred day moving average of $11.01. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $983.38 million during the quarter. During the same period last year, the firm earned $0.37 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

HE has been the topic of several research analyst reports. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Wednesday. Evercore ISI dropped their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd.

About Hawaiian Electric Industries

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.