Kingswood Wealth Advisors LLC Decreases Holdings in Hawaiian Electric Industries, Inc. $HE

Kingswood Wealth Advisors LLC cut its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 34.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 110,891 shares of the utilities provider’s stock after selling 57,116 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Hawaiian Electric Industries were worth $1,179,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Hawaiian Electric Industries by 379.3% during the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock valued at $27,000 after buying an additional 2,037 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Hawaiian Electric Industries by 3,797.8% during the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider’s stock valued at $38,000 after buying an additional 3,380 shares during the last quarter. Byrne Asset Management LLC raised its stake in Hawaiian Electric Industries by 34.0% during the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider’s stock valued at $43,000 after buying an additional 987 shares during the last quarter. US Bancorp DE raised its stake in Hawaiian Electric Industries by 51.2% during the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,453 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Hawaiian Electric Industries during the 2nd quarter valued at $47,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Down 1.9%

NYSE:HE opened at $11.10 on Thursday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -10.99 and a beta of 0.66. Hawaiian Electric Industries, Inc. has a one year low of $8.14 and a one year high of $13.41. The business has a fifty day moving average price of $11.66 and a 200-day moving average price of $10.92.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The company had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. Sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research note on Wednesday. Barclays reduced their price objective on 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. One 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price 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.