JCP Investment Management LLC Buys New Holdings in Hawaiian Electric Industries, Inc. $HE

JCP Investment Management LLC purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 360,000 shares of the utilities provider’s stock, valued at approximately $3,974,000. Hawaiian Electric Industries makes up about 2.6% of JCP Investment Management LLC’s investment portfolio, making the stock its 11th largest holding. JCP Investment Management LLC owned 0.21% of Hawaiian Electric Industries as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HE. Farther Finance Advisors LLC raised its position in shares of 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 buying an additional 1,125 shares during the last quarter. SJS Investment Consulting Inc. bought a new position in shares of Hawaiian Electric Industries during the third quarter worth $46,000. Allworth Financial LP grew its stake in Hawaiian Electric Industries by 78.9% during the second quarter. Allworth Financial LP now owns 4,605 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 2,031 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $55,000. Finally, State of Alaska Department of Revenue bought a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $62,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on HE shares. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Wall Street Zen upgraded Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Barclays raised their price target on 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, Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $13.25.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $14.67 on Monday. The company’s 50-day moving average price is $15.31 and its 200-day moving average price is $12.98. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. The company has a market cap of $2.53 billion, a PE ratio of 20.66 and a beta of 0.62. Hawaiian Electric Industries, Inc. has a twelve month low of $9.06 and a twelve month high of $17.38.

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

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.