Bleakley Financial Group LLC Invests $418,000 in Hawaiian Electric Industries, Inc. $HE

Bleakley Financial Group LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) in the 2nd quarter, Holdings Channel reports. The firm acquired 39,331 shares of the utilities provider’s stock, valued at approximately $418,000.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Hawaiian Electric Industries by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider’s stock worth $742,000 after acquiring an additional 49,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Hawaiian Electric Industries by 123.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider’s stock worth $965,000 after acquiring an additional 48,792 shares in the last quarter. Optimize Financial Inc purchased a new position in shares of Hawaiian Electric Industries in the first quarter valued at $261,000. Arizona State Retirement System boosted its stake in shares of Hawaiian Electric Industries by 3.7% in the first quarter. Arizona State Retirement System now owns 49,470 shares of the utilities provider’s stock valued at $542,000 after purchasing an additional 1,771 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Hawaiian Electric Industries in the first quarter valued at $126,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 1.8%

Hawaiian Electric Industries stock opened at $11.87 on Monday. The firm’s 50-day moving average is $11.74 and its 200-day moving average is $11.01. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $13.41. The company has a market cap of $2.05 billion, a P/E ratio of -11.75 and a beta of 0.66.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The business had revenue of $746.39 million during the quarter. On average, equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HE. Weiss Ratings restated a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research note on Saturday. Barclays decreased their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Finally, Jefferies Financial Group upgraded shares of Hawaiian Electric Industries to a “hold” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.94.

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.