Hawaiian Electric Industries, Inc. (NYSE:HE) Holdings Lifted by Truist Financial Corp

Truist Financial Corp grew its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 87.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,326 shares of the utilities provider’s stock after purchasing an additional 20,680 shares during the period. Truist Financial Corp’s holdings in Hawaiian Electric Industries were worth $400,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Creative Planning grew its position in Hawaiian Electric Industries by 203.2% in the 2nd quarter. Creative Planning now owns 70,683 shares of the utilities provider’s stock worth $638,000 after purchasing an additional 47,372 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Hawaiian Electric Industries by 116.8% in the second quarter. Algert Global LLC now owns 167,484 shares of the utilities provider’s stock valued at $1,511,000 after acquiring an additional 90,234 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Hawaiian Electric Industries by 225.3% in the second quarter. The Manufacturers Life Insurance Company now owns 59,640 shares of the utilities provider’s stock valued at $538,000 after acquiring an additional 41,305 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 79.0% in the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after acquiring an additional 825,073 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Down 2.2 %

HE stock opened at $10.23 on Friday. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The firm has a market cap of $1.13 billion, a PE ratio of 6.05 and a beta of 0.54. The firm has a 50 day simple moving average of $11.12 and a 200 day simple moving average of $11.21. 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 released its earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $792.30 million for the quarter. The firm’s revenue for the quarter was down .2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HE shares. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Wells Fargo & Company decreased their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th.

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.