Pekin Hardy Strauss Inc. Invests $386,000 in Hawaiian Electric Industries, Inc. $HE

Pekin Hardy Strauss Inc. bought a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the third quarter, HoldingsChannel reports. The fund bought 35,000 shares of the utilities provider’s stock, valued at approximately $386,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HE. Federated Hermes Inc. boosted its stake in shares of Hawaiian Electric Industries by 1.3% during the 2nd quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock worth $775,000 after buying an additional 910 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Hawaiian Electric Industries by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 26,142 shares of the utilities provider’s stock worth $278,000 after acquiring an additional 1,005 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Hawaiian Electric Industries by 37.5% during the third quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,125 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Hawaiian Electric Industries by 0.5% during the second quarter. Panagora Asset Management Inc. now owns 212,400 shares of the utilities provider’s stock valued at $2,258,000 after purchasing an additional 1,132 shares during the last quarter. Finally, Stratos Wealth Partners LTD. grew its stake in Hawaiian Electric Industries by 6.8% in the third quarter. Stratos Wealth Partners LTD. now owns 20,217 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 1,280 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Barclays upped their price target on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research report on Monday, January 26th. Jefferies Financial Group cut shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price target for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded shares of Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.00.

Hawaiian Electric Industries Stock Up 0.5%

HE opened at $15.86 on Friday. The stock’s fifty day simple moving average is $14.32 and its 200 day simple moving average is $12.58. Hawaiian Electric Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $17.38. The stock has a market cap of $2.74 billion, a PE ratio of 198.29 and a beta of 0.63. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79.

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.