Burney Co. Acquires 56,464 Shares of Hawaiian Electric Industries, Inc. $HE

Burney Co. increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 361.3% in the 1st quarter, HoldingsChannel reports. The fund owned 72,093 shares of the utilities provider’s stock after acquiring an additional 56,464 shares during the period. Burney Co.’s holdings in Hawaiian Electric Industries were worth $1,070,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp raised its position in Hawaiian Electric Industries by 56.9% during the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock valued at $86,171,000 after purchasing an additional 2,540,134 shares during the period. 12 West Capital Management LP bought a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at approximately $22,755,000. Vanguard Group Inc. raised its holdings in Hawaiian Electric Industries by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock valued at $238,747,000 after buying an additional 1,628,307 shares during the period. Horizon Kinetics Asset Management LLC raised its holdings in Hawaiian Electric Industries by 6.2% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock valued at $238,526,000 after buying an additional 1,134,646 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in 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 worth $13,726,000 after buying an additional 753,549 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on HE shares. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Barclays lowered their target price on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a report on Thursday, June 25th. Jefferies Financial Group dropped their price target on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a research note on Monday. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $12.38.

Hawaiian Electric Industries Stock Up 1.7%

NYSE:HE opened at $13.57 on Thursday. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 18.34 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a twelve month low of $10.45 and a twelve month high of $17.38. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. The stock has a fifty day simple moving average of $13.66 and a 200-day simple moving average of $14.44.

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

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.