Raymond James Financial Services Advisors Inc. Boosts Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Raymond James Financial Services Advisors Inc. lifted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 44.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,824 shares of the utilities provider’s stock after buying an additional 13,128 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Hawaiian Electric Industries were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HE. UMB Bank n.a. purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth about $27,000. Lazard Asset Management LLC purchased a new position in Hawaiian Electric Industries during the second quarter worth about $34,000. Newbridge Financial Services Group Inc. purchased a new position in Hawaiian Electric Industries during the third quarter worth about $35,000. Perkins Coie Trust Co purchased a new position in Hawaiian Electric Industries during the third quarter worth about $36,000. Finally, MUFG Americas Holdings Corp purchased a new position in Hawaiian Electric Industries during the third quarter worth about $39,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Shares of HE opened at $9.78 on Thursday. Hawaiian Electric Industries, Inc. has a 1-year low of $8.74 and a 1-year high of $40.16. The stock has a market cap of $1.08 billion, a PE ratio of 5.40 and a beta of 0.53. The firm has a 50-day simple moving average of $11.73 and a two-hundred day simple moving average of $12.70. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.13.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The business had revenue of $961.40 million during the quarter. During the same quarter in the prior year, the business earned $0.52 earnings per share. Hawaiian Electric Industries’s revenue was down 5.7% on a year-over-year basis. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HE shares. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday. Evercore ISI lifted their target price on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.50.

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.