IMS Capital Management Buys 1,257 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

IMS Capital Management boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 2.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,957 shares of the utilities provider’s stock after buying an additional 1,257 shares during the quarter. IMS Capital Management’s holdings in Hawaiian Electric Industries were worth $469,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. New Covenant Trust Company N.A. bought a new position in Hawaiian Electric Industries in the 1st quarter worth about $32,000. Abich Financial Wealth Management LLC increased its stake in Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,137 shares during the period. Fidelis Capital Partners LLC bought a new stake in Hawaiian Electric Industries in the first quarter valued at approximately $42,000. Signaturefd LLC boosted its stake in shares of Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Hawaiian Electric Industries by 82.3% in the second quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock worth $86,000 after buying an additional 4,308 shares during the period. 59.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company decreased their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th. Finally, Evercore ISI lowered their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th.

Hawaiian Electric Industries Trading Down 2.7 %

Shares of NYSE HE opened at $9.68 on Tuesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of 5.73 and a beta of 0.55. The business’s 50 day moving average is $12.94 and its two-hundred day moving average is $11.34. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last posted its 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). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company had revenue of $792.30 million for the quarter. The firm’s revenue for the quarter was down .2% on a year-over-year basis.

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.