Brighton Jones LLC Purchases New Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Brighton Jones LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,788 shares of the utilities provider’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently modified their holdings of HE. AQR Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries by 1,470.8% in the third quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock valued at $75,338,000 after buying an additional 5,730,428 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Hawaiian Electric Industries during the fourth quarter worth $19,015,000. Qube Research & Technologies Ltd raised its holdings in Hawaiian Electric Industries by 7,788.3% during the third quarter. Qube Research & Technologies Ltd now owns 1,190,815 shares of the utilities provider’s stock worth $14,659,000 after purchasing an additional 1,175,719 shares during the last quarter. Jupiter Asset Management Ltd. raised its holdings in Hawaiian Electric Industries by 636.1% during the third quarter. Jupiter Asset Management Ltd. now owns 1,209,258 shares of the utilities provider’s stock worth $14,886,000 after purchasing an additional 1,044,978 shares during the last quarter. Finally, Clough Capital Partners L P acquired a new position in Hawaiian Electric Industries during the third quarter worth $6,176,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on HE. Evercore ISI lifted their price objective on Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a report on Thursday, February 15th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, Hawaiian Electric Industries currently has a consensus rating of “Hold” and an average price target of $11.50.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $10.43 on Friday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.74 and a fifty-two week high of $40.16. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 5.76 and a beta of 0.55. The business has a fifty day moving average of $11.03 and a 200-day moving average of $12.53. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.21.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The company had revenue of $961.40 million during the quarter. During the same period last year, the firm earned $0.52 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. As a group, analysts predict that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current fiscal year.

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.