Inspire Investing LLC Increases Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Inspire Investing LLC grew its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 23.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,072 shares of the utilities provider’s stock after purchasing an additional 7,413 shares during the period. Inspire Investing LLC’s holdings in Hawaiian Electric Industries were worth $352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HE. Verition Fund Management LLC acquired a new position in Hawaiian Electric Industries during the 4th quarter worth about $8,944,000. Wellington Management Group LLP purchased a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at approximately $2,370,000. Panagora Asset Management Inc. grew its holdings in shares of Hawaiian Electric Industries by 716.5% in the second quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock valued at $1,693,000 after purchasing an additional 164,702 shares in the last quarter. Vanguard Group Inc. increased its stake in Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after buying an additional 160,815 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Hawaiian Electric Industries by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after buying an additional 120,208 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Up 0.1 %

Shares of NYSE:HE opened at $10.97 on Monday. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The company’s 50 day moving average is $13.24 and its two-hundred day moving average is $11.39. The company has a market cap of $1.21 billion, a PE ratio of 6.49 and a beta of 0.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The business had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business’s revenue was down .2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HE shares. Wells Fargo & Company upgraded shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target for the company in a research note on Friday, August 23rd. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $16.00 price objective on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th.

About Hawaiian Electric Industries

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.