Jefferies Financial Group Inc. Buys 52,318 Shares of Hawaiian Electric Industries, Inc. $HE

Jefferies Financial Group Inc. lifted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 73.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,301 shares of the utilities provider’s stock after acquiring an additional 52,318 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.07% of Hawaiian Electric Industries worth $1,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC grew its stake in Hawaiian Electric Industries by 28.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after purchasing an additional 3,624,709 shares in the last quarter. Geode Capital Management LLC raised its position in Hawaiian Electric Industries by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 4,093,753 shares of the utilities provider’s stock valued at $43,522,000 after purchasing an additional 48,686 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.3% in the 2nd quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock worth $29,178,000 after buying an additional 34,535 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Hawaiian Electric Industries by 10.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider’s stock worth $22,762,000 after buying an additional 195,327 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Hawaiian Electric Industries by 3.1% during the 2nd quarter. Bank of America Corp DE now owns 1,489,138 shares of the utilities provider’s stock worth $15,830,000 after buying an additional 45,159 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.4%

Shares of NYSE HE opened at $14.72 on Thursday. Hawaiian Electric Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $17.38. The business has a fifty day moving average price of $15.22 and a 200 day moving average price of $12.95. The stock has a market capitalization of $2.54 billion, a P/E ratio of 20.73 and a beta of 0.62. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The company had revenue of $805.82 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. Equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group lowered 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. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Zacks Research raised shares of Hawaiian Electric Industries to a “hold” rating in a research report on Monday, February 9th. Barclays boosted their price target on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $13.25.

About Hawaiian Electric Industries

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.